Europe / Caspian / CIS
Country profile: Spain
| Location: | Southwestern Europe, bordering the Bay of Biscay, Mediterranean Sea, North Atlantic Ocean, and Pyrenees Mountains, southwest of France |
| Climate: | temperate; clear, hot summers in interior, more moderate and cloudy along coast; cloudy, cold winters in interior, partly cloudy and cool along coast |
| Terrain: | large, flat to dissected plateau surrounded by rugged hills; Pyrenees in north |
| Size: | 504782 sq. km total (Land area: 499542 sq. km Water area: 5240 sq.km) |
| Population: | 40,491,051 (July 2008 est.) |
| Languages: | Castilian Spanish (official) 74%, Catalan 17%, Galician 7%, Basque 2%, are official regionally |
| Government: | parliamentary monarchy |
| Capital city: | Madrid |
| Legal system: | civil law system, with regional applications; accepts compulsory ICJ jurisdiction with reservations |
| Currency: | euro (EUR) |
| Licensing: |
Country profile
Both Spain and Portugal have been members of the European Union (EU) since 1986. EU membership has led to an increased standard of living and economic growth in the Iberian Peninsula and billions of dollars worth of EU structural funds flowing into the two countries. Nevertheless, both countries continue to face economic challenges. Spain's unemployment rate remains stubbornly high, while Portugal has repeatedly exceeded the EU's limits on budget deficits. Economic growth spurred by EU membership has led to increases in energy consumption.
For example, Spain's energy demand has increased over 100 percent since the mid-1970s. The Iberian Peninsula has limited energy resources, so both Spain and Portugal must depend upon imports for the bulk of their energy needs. Attempts to develop domestic energy sources, though, have focused on hydropower and renewables. Both countries have also sought greater integration of the Iberian energy sector through policy coordination and infrastructure projects. The two announced in 2001 that they would create a single Iberian electricity market without limits on transnational ownership or market participation. However, repeated delays have pushed implementation of this market, called Mibel, until October 2007.
Energy production and consumption
| Oil | Gas | |
| Production: | 29,350 bbl/day (2005 est.) | 151 million cu m (2005 est.) |
| Consumption: | 1 million bbl/day (2005 est.) | 30 billion cu m (2005 est.) |
| Exports: | 175,200 bbl/day (2005 est.) | |
| Imports: | 1 bbl/day (2005 est.) | 31 billion cu m (2005 est.) |
| Reserves: | 157 million bbl (1 January 2006 est.) | 2 billion cu m (1 January 2006 est.) |
| Major fields: |
Spain - recent news
| 03 Jul 26 |
Spain: ACCIONA Energía completes the sale of 64 MW hydro portfolio to White Summit Capital ACCIONA Energía has closed the sale of 64MW of hydro assets in northern Spain to White Summit Capital, an infrastructure manager specializing in the energy transition. The value of the transaction amounts to €66 million. |
| 30 Jun 26 |
Spain: Copenhagen Infrastructure Partners takes FID on large-scale biogas plant in Spain Copenhagen Infrastructure Partners (CIP), through its Advanced Bioenergy Fund I (ABF I), has reached final investment decision (FID) on what will be one of Spain’s largest biogas plants, Cobirgy, located in La Sentiu de Sió, Lérida (Catalonia). |
| 30 Jun 26 |
Spain: Plenitude strengthens its presence in Spain with the start of production at the 220 MW Villarino solar park Plenitude, a company controlled by Eni, has announced the start of production at its Villarino photovoltaic plant, located in the municipality of Villarino de los Aires, in Salamanca (Castilla y León, Spain), with an installed capacity of 220 MW. |
| 18 Jun 26 |
Spain: World’s first large-scale 100% hydrogen engine tested at Wärtsilä’s Bermeo laboratory to support the Spanish grid Technology group Wärtsilä has started validation of a new 100% hydrogen engine to power Spain’s national electricity grid in Bermeo, northern Spain – the world’s first demonstration of a large-scale, 100% hydrogen engine. |
| 11 Jun 26 |
Spain: Repsol and Masdar to partner in €849 million renewables portfolio in Spain Repsol, an energy company that provides solutions for all its customers’ energy needs and Abu Dhabi Future Energy Company – Masdar, a global renewable energy leader, have signed an agreement for Masdar to acquire a 49.99% stake in a renewable energy portfolio in Spain. The transaction values the portfolio at €849 million. |
Spain - more news
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