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
| 25 Jul 24 |
Spain: Spanish government grants 10-year licence extension on El Romeral production concessions Prospex Energy, the AIM quoted investment company focused on European gas and power projects, has announced that the Spanish regulatory authority has granted a ten-year extension, to July 2034, to the natural gas production concessions owned by Tarba Energía known as El Romeral 1, 2 & 3 from which Tarba generates electricity from its own natural gas production. |
| 19 Jul 24 |
Spain/Portugal: Repsol and EDF Renewables sign an exclusivity cooperation agreement for offshore wind in Spain and Portugal Repsol and EDF Renewables have reached an exclusivity agreement to join forces in view of future offshore wind tenders in Spain and Portugal, given that the Iberian Peninsula offers significant growth opportunities. |
| 01 Jul 24 |
Spain: Nordex Group receives order from Spain for almost 124 MW The Nordex Group has received an order from Aquila Clean Energy for 123.9 MW in Spain. From summer 2025, the Nordex Group will supply and install 21 N163/5.X turbines for the Baza cluster in the province of Granada in southern Spain. The Baza cluster is spread over eight locations between the cities of Granada and Almeria in Andalusia. |
| 26 Jun 24 |
Spain: Odfjell Technology secures well services contract with HEYCO Energy Group for Spain’s Viura field Odfjell Technology has been awarded a contract for onshore activity by energy portfolio company, HEYCO Energy Group. The agreement will support Odfjell Technology’s long-term growth plans to expand its well services operations across continental Europe. The contract will focus on the Viura Field in Northern Spain, where 85% of the country’s natural gas is produced. |
| 26 Jun 24 |
Spain: Plenitude inaugurates Villanueva II new 50 MW solar plant in Spain Plenitude, a company controlled by Eni, has inaugurated in Torrejoncillo del Rey (Cuenca, Spain) the Villanueva II solar plant with an installed capacity of 50 MW. |
Spain - more news
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