The increase is similar to that of the rest of the other European markets. Almost half of the gas was imported from Algeria (42.7%) and 8.9% was imported from Russia, according to the bulletin of the National Markets and Competition Commission.
Euskaraz irakurri: Gasaren prezioa % 500 baino gehiago igo zen Espainian 2021ean
The increase of gas price in the spanish market it was exponential between December 2020 and December 2021, when the deployment of Russian troops around the Ukraine border, which preceded the invasion, had already begun.
Specifically, the price on the MIBGAS (Iberian Gas Market) was set at €18.11/MWh in December 2020, and rose to €111.14/MWh (508.6% more) in December of the following year, as published by the CNMC in the Newsletter of the wholesale gas market during 2021.
All this, in a context in which the world production of LNG (liquefied natural gas) grew by 5% in 2021, mainly due to the increase in production in the United States (+50%), which ranked as the third largest producer in the world, after Australia and Qatar.
The rise in LNG has been constant since the fall of 2020, due to the economic recovery after the stoppage of the pandemic, which reactivated the demand for hydrocarbons.
“In particular, the increases in demand for liquefied natural gas (LNG) in the Asian market put pressure on the price of the international LNG market, both in Asia and in Europe,” says the bulletin.
Already in autumn 2021, in October specifically, underground gas storage was at a very low level compared to the previous year, mainly due to “the limitation of Russian gas inflows to the quantities contracted in the long term, and due to the uncertainty geopoliticsas a consequence of the tensions between Russia and Ukraine, and the delay in the certification and start-up of the NordStream 2 pipeline“.
Almost half gas, from Algeria
The main country that supplies the Spanish market has been, during this period, Algeria, with a percentage of 42.7%, (16.6% more than in 2020); then they were: USA (14.2%), Nigeria (11.5%), Russia (8.9%) and Taste (6.3%).
“Own gas production (1,418 GWh), mostly from the recent Viura field (La Rioja), accounted for only 0.34% of the natural gas supply,” says the report.
Another noteworthy fact is the cessation of supply to through the Maghreb gas pipelinedue to the lack of agreement between Algeria and Morocco to renew the gas transit contract.
Source: Eitb
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