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 Nov 25 |
Spain: Nordex Group wins new order from SSE for two projects totalling 42 MW in Spain The Nordex Group has secured a new order from its long-standing customer SSE for the supply and installation of seven N163 wind turbines in two wind farms, located near Portalrubio, Teruel, in the Aragón region of Spain. |
| 11 Nov 25 |
Venture Global announces long-term Sales and Purchase Agreement with Naturgy of Spain Venture Global and Naturgy have announced the execution of a new long-term Sales and Purchase Agreement (SPA) for the purchase of 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global for twenty years beginning in 2030. |
| 05 Nov 25 |
Spain: TotalEnergies to supply renewable electricity to Data4’s data centers for 10 years TotalEnergies and Data4, the European champion in the data center industry, have signed an agreement to supply renewable electricity with a stable consumption profile (Clean Firm Power) to Data4’s sites in Spain. TotalEnergies will supply Data4’s facilities with renewable electricity generated by Spanish wind and solar farms with a capacity equivalent to 30 MW, which are about to start. |
| 31 Oct 25 |
Spain: Prospex Energy confirms plateau production rates at the Viura field Prospex Energy, the AIM quoted investing company focused on European gas and power projects, has confirmed that gas production from the Viura-1B well in the Viura gas field in northern Spain has reached the planned plateau rate of 180,000 normal cubic metres per day. |
| 21 Oct 25 |
Spain: Repsol and Norwegian Cruise Line Holdings sign long-term agreement to supply renewable fuels in Barcelona Repsol has signed a landmark 8-year agreement with Norwegian Cruise Line Holdings (NCLH) to supply renewable marine fuels at the Port of Barcelona, establishing an unprecedented long-term relationship within the cruise industry. |
Spain - more news
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