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Endesa to invest EUR 30 million to develop main Spanish LNG bunkering hub at Algeciras

20 Nov 2020

Spain’s largest electric utility company Endesa on Wednesday (18 November) said it plans to invest more than 30 million euros in developing a liquified natural gas (LNG) bunkering supply chain at its port terminal in Los Barrios, in the Bay of Algeciras (Cádiz).

In order to support the shipping industry’s decarbonisation strategy to reduce emissions, Endesa said it has decided to proceed with this project in two parts: an initial investment of EUR 15.6 million (USD 18.5 million) up to year 2022 to develop physical infrastructure at the port terminal for LNG bunkering.

Endesa said the initial stage will also include a detailed study on new market technologies, following which a second phase will lead to an investment of more than EUR 30 million (USD 35.7).

The company added the second phase aims for the facility to reach a storage capacity of around 4,080 cubic meters and a have and a volume of managed energy 1,100 GWh per annum before 2023.

With this capacity, the Cadiz terminal would become the main LNG bunkering port station in Spain, noted Endesa.

“The strategic location of our terminal offers a possibility of growth and diversification towards new lines of business, such as LNG bunkering, which allows us to advance our decarbonisation strategy by investing in activities that reduce emissions,” said Juan María Moreno, General Director of Energy Management at Endesa.

At present, Endesa uses this facility for coal discharge activities, as well as for the storage of fiber optic cables and electrical connection cable. With this expansion and modification, Endesa said it will be able to expand into other businesses associated with LNG.


Photo credit: Endesa
Published: 20 November, 2020

 

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