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
| 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. |
| 10 Jun 26 |
Spain: Plenitude has started production across the entire Renopool plant in Spain, its largest photovoltaic project built worldwide Plenitude has started production at the second 200 MW block of the Renopool photovoltaic project, located in the municipality of Solana de los Barros, in Badajoz (Extremadura, Spain). Renopool, the largest solar project ever built by the company worldwide with a total installed capacity of 330 MW, is now fully operational. |
| 06 Jun 26 |
Spain: ACCIONA Energía to sell 64MW hydro portfolio to White Summit Capital ACCIONA Energía has reached an agreement for the sale of a 64MW hydro portfolio in northern Spain to White Summit Capital, an infrastructure manager specializing in the energy transition. |
| 01 Jun 26 |
Spain: FairWind wins multi-year O&M contract in Spain FairWind has secured its first project with Statkraft, Europe’s largest generator of renewable energy, to deliver operations and maintenance (O&M) across two onshore wind farms in Spain. The 2.5-year award is also the company’s first O&M term contract in its Mediterranean region, marking a significant step in its European growth. The services will be delivered under Statkraft’s overall operational framework and asset management responsibility. |
| 01 Jun 26 |
Spain: Prospex Energy in strategic collaboration with IMMAGE Scientific Drilling Project at El Romeral Prospex Energy, the AIM quoted investment company focused on European gas and power projects, has entered into a strategic collaboration agreement with the IMMAGE (Investigating Miocene Mediterranean-Atlantic Gateway Exchange) Land-2-Sea drilling project in relation to the Romeral concession. IMMAGE is an international scientific drilling initiative investigating the impact of the Messinian Salinity Crisis on global climate. |
Spain - more news
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