Operations in the natural gas market enabled it to supply its combined cycle power plants in Spain, which have an aggregate generation capacity of 5,600MW, as well is its industrial, commercial and domestic customers in the country.
The company acquired 92 shiploads of liquefied natural gas (LNG) last year, which were offloaded at the regasification plants in the Spanish ports of Bilbao, Barcelona, Huelva, and Sagunto, and at facilities in other countries.
In November 2007, Iberdrola received its 500th cargo of LNG, which brought the total volume of its gas transactions to 20 billion cubic meters (bcm) since entering the business in 2001.
Iberdrola stated that, in 2007, it has consolidated its position as a major gas supplier and the leading developer of new gas infrastructures through its 25% holding in the gasification plants of Bahia Bizkaia Gas in Bilbao, and its 30% stake in a similar plant in Sagunto. It is also a 20% partner in Medgaz, which is laying an undersea gas pipeline to connect Algeria and Spain.
