Appointed provisional manager of Spain’s hydrogen backbone network under a royal decree last December, Enagás has set dividends to €1 per share for 2024-2026, down from €1.74 per share expected in 2023.
Enagás started work with Spanish utility Naturgy in 2021 on a green hydrogen study using 350MW of combined onshore and floating offshore wind capacity in north-west Spain to decarbonise sectors such as steel and shipyards in the area.
The gas grid operator is required to submit a proposal to the directorate-general for energy policy and mines for the development of Spanish hydrogen backbone infrastructure by 29 April, to be realised within a ten-year horizon.
The law also appoints Enagás to represent Spain in the creation of a European network of grid operators for hydrogen, and to create separate entities to develop other parts of Europe’s hydrogen backbone network.
This infrastructure investment will translate into an estimated gross investment of about €5.9 billion in Spain – including renewable hydrogen transfer pipeline H2Med, which comprises a hydrogen interconnection between Portugal and Spain (Celorico da Beira to Zamora) and a maritime pipeline connecting Spain and France (Barcelona to Marseille).
Enagas described 2023 as a “key year for the advancement of the hydrogen timetable”, citing the inclusion of H2Med and Spanish hydrogen infrastructure in the EU’s list of projects of common interest (PCIs), as well as the launch in March of the issuance of guarantees of origin for renewable gases.
The company has also approved the creation of a directorate-general for engineering, technology and digitalisation to address the challenge of developing a hydrogen infrastructure. Enagás will be updating its strategic plan this year.
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