The energy tensions derived from the war in Ukraine have changed the profile of Spain on the European energy table. Its peripheral location has gone from being a handicap to becoming a strategic asset that has positioned it as a strategic supplier at the worst moment of the energy crisis.
The cut off of gas supply by Russia through gas pipelines put Spain in the crosshairs of all of Europe in 2022. 40% of the gas that Europe consumed came from Russia and it was necessary to look for alternatives. Spain, with six regasification plants in its territory (more than any other country in Europe) became the gateway for liquefied natural gas (LNG), essential to replace Russian supply.
Spain was an exporter of gas to neighboring countries for the first time in 2022. The country bought 7.4% more natural gas but exports shot up 91%, to 68,214 GWh (37% LNG). Thus, it far exceeded the 35,756 GWh exported in 2021 and was well above the 13,103 GWh that were exported before the pandemic, according to data from the CNMC. "The El Musel regasification plant has been launched after years to function as strategic storage for countries like Germany, which bring gas to Spain in large ships and then channel it to their territory with other smaller ones because they do not have the capacity for more" , explains Luis Deza, director of Energy at the consultancy Mazars.
In addition to exporting, Spain used that gas to produce more electricity with the aim of serving neighboring countries. Only since the exceptional measures to respond to the war were launched, in August 2022, and until last April, Spain exported 9.4 terawatts to France compared to an average in the same period of the previous five years. of 3.9 terawatts. Exports to Portugal, a country whose electricity production is closely linked to hydropower, amounted to 3.8 terawatts.
"These exports are limited by the few electricity and gas connections in the country," says Alexandre Danthine, energy expert for the Iberian market at the consultancy Aurora.
But if there is something that changes the role of Spain on the energy table, it is not fossil fuels, but its successful commitment to renewable energy.
The sun and the wind of Spain place it in one of the top positions in the world ranking of producers. The forecasts of the consultancy Aurora point to renewables generating 80% of total production in 2030. Last May there were specific moments in which renewable energy was able to cover 100% of demand.
“It is still a one-off issue. It will be possible in the future, but Spain has to make an effort so that its electrical system efficiently accommodates all the renewable capacity that is currently approved. Perhaps the date of entry into operation of all those projects must be extended to be able to give them entry. But in the long term it will be done,” says Danthine.
And it is precisely this renewable energy power, which is also achieved at lower prices than in the rest of the countries of the European Union, which has positioned Spain as a destination of interest for national and international investment for another of the energy vectors of the future, the production of green hydrogen. It is the best positioned energy vector to facilitate the decarbonisation of the most energy-intensive industries, as well as heavy transport by road, sea and air.
The main shipping company in the world, Maersk, has chosen the coasts of Andalusia and Galicia as centers to invest 10,000 million euros in the production of green methanol, derived from hydrogen, with which Spain will become one of the hubs from 2030 refueling of the company's ships, which cross the entire planet. The start-up of the H2Med, the underwater hydrogen pipeline that will connect Barcelona with Marseille to channel this gas to the Central European industry, is also planned for that year.
In 2022, Spain was the second country in the world, only behind the US, with the highest number of projects to develop green hydrogen announced, 20% of the total. According to the European Hydrogen Backbone, by 2050 the Iberian Peninsula should be generating 33 million tons per year. Of these, 27 million could be dedicated to export, once domestic needs are covered. If all that is planned is fulfilled, Spain's role as an energy importer could definitely go down in history.
