Enagás to Invest €4.035 Billion by 2030 with a Focus on Green Hydrogen

Spanish gas network operator Enagás is setting the course for a climate-neutral future and is planning to invest 4.04 billion euros in renewable energies by 2030. A particular focus: hydrogen. More than three quarters of this sum - around 3.13 billion euros - will go towards building a future-proof hydrogen infrastructure.

This reorientation is no coincidence. The shrinking gas market is forcing Enagás to adapt its strategy. The company has repositioned itself financially by selling assets, adjusting its dividend policy and reducing its net debt by 1 billion euros to 2.4 billion euros. “Our strengthened balance sheet gives us the leeway to drive forward our hydrogen strategy with determination,” explains CEO Arturo Gonzalo.

Enagás is focusing on a broad hydrogen strategy. In addition to the expansion of infrastructure projects, the company founded the subsidiary Scale Green Energy (SGE), which focuses on CO₂ transport, LNG and bio-LNG refueling, hydrogen mobility and renewable ammonia. Enagás is also taking CO₂ reduction seriously. With projects such as CO₂necta and MOSUSOL NetCO₂, which will start by 2031 with an investment volume of 130 million euros, four million tons of CO₂ emissions from the Spanish cement industry are to be saved each year.

In the LNG and bio-LNG sector, Enagás is building new export terminals and investing in bunker ships such as the Haugesund Knutsen and Levante LNG - another is being planned for the Canary Islands.

In the field of hydrogen mobility, the company has secured EU funding for the construction of six hydrogen filling stations in Spain. The aim is to have twelve by 2030 - a significant step towards achieving the national climate targets.

With its investments, Enagás is supporting Spain's ambitious plans to take on a leading role in the European hydrogen market. The H2Med corridor, which connects Spain with France, Germany and other European countries, is a key project in this regard. Enagás has already secured 75.8 million euros in EU funding for hydrogen infrastructure. Hydrogen is set to overtake natural gas in the company's portfolio by 2030 - a clear signal for change. Enagás is thus joining a larger European trend: Energy companies such as Air Liquide and TotalEnergies are also investing massively in green hydrogen projects. In the Netherlands, plants are currently being built that will produce 45,000 tons of hydrogen per year and reduce CO₂ emissions from refineries in Belgium and the Netherlands by 450,000 tons.

The message is clear: the energy transition is in full swing - and Enagás is positioning itself as a pioneer in a future in which hydrogen plays a key role.