{"id":2825,"date":"2022-12-22T14:55:43","date_gmt":"2022-12-22T14:55:43","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=2825"},"modified":"2022-12-22T14:55:46","modified_gmt":"2022-12-22T14:55:46","slug":"spain-fines-gas-traders-for-failing-to-warn-on-time-about-supply-changes","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/2825\/","title":{"rendered":"Spain fines gas traders for failing to warn on time about supply changes"},"content":{"rendered":"
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Spain’s competition watchdog on Thursday fined two natural gas traders a combined 4.8 million euros ($5.1 million) for not meeting deadlines to warn about changes in supplies to Spanish gas grid operator Enagas\u00a0(ENAG.MC).<\/p>\n\n\n\n

The regulator, known as CNMC, said it fined gas trading units of Germany’s power utility RWE\u00a0(RWEG.DE)\u00a03.6 million euros and French oil major TotalEnergies\u00a0(TTEF.PA)\u00a01.2 million euros.<\/p>\n\n\n\n

The two companies breached regulations on the unloading of liquefied natural gas from ships to regasification terminals in Spanish ports in 2021, CNMC said.<\/p>\n\n\n\n

Companies are supposed to warn any change to Enagas at least five days in advance. The infringements were considered “grave”, the CNMC said.<\/p>\n\n\n\n

Spokespersons for Total and RWE did not immediately respond to requests for comment.<\/p>\n\n\n\n

Following the Russian invasion of Ukraine and a diplomatic spat with Algeria, Spain is now getting most of its gas from seaborne LNG, whose price is much more volatile.<\/p>\n\n\n\n

Earlier this year, dozens of ships loaded with LNG were circling off the Mediterranean coast, reportedly waiting for more favourable prices to unload.<\/p>\n\n\n\n

($1 = 0.9389 euros)<\/p>\n

Updated on