BMI View: The pace of economic recovery and renewed growth is critical to Spain’s energy market, as it will drive the country’s demand for oil and natural gas – virtually all of which is imported. Spain is a key conduit for gas pipelines from Algeria and is a major receiver of liquefied natural gas (LNG), an area where further capacity expansion is possible once the economic outlook improves. Shale gas could potentially offer improved self-sufficiency, but is unlikely to revolutionise the energy outlook. Meanwhile, Repsol has started to undergo a strategic shake-up following the Argentine government’s privatisation of its YPF …
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