Commodity Market Report

Portugal gas and LNG markets long-term outlook 2018

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13 June 2018

Portugal gas and LNG markets long-term outlook 2018

Report summary

Portugal accounts for just 1.3% of European gas demand.  The country has no indigenous gas production and has been wholly reliant upon imports since gas was introduced in to the market in 1997. Portugal imports Algerian piped gas through the Maghreb pipeline via Spain and LNG into its terminal at Sines, built in 2003 and expanded in 2012. Portugal's national oil and gas monopoly Galp Energia has supply agreements for LNG from Nigeria. Energias de Portugal (EDP), Portugal's largest gas distributor, imports piped gas from Algeria under a long-term supply contract. In 2014, EDP also signed a 20-year agreement with Cheniere to import US LNG from as early as 2019 and in 2018 signed a contract with Venture Global for 1mmtpa of LNG for 20 years, set to start in 2023. Due to the lack of access to other European piped imports, LNG plays a key role in improving Portugal's diversity of supply. The terminal offers non-discriminatory, regulated third party access.

Table of contents

  • Market Liberalisation
    • Short term Outlook
    • Medium & Long term Outlook
  • Current LNG Status and Access
  • Future LNG Terminal Development
  • Regasification Tariffs
  • Pipeline tariffs or market entry costs

Tables and charts

This report includes 7 images and tables including:

  • Monthly gas demand (2013-2017)
  • Historical LNG imports (2013-2017)
  • Historical LNG imports (2005-2017)
  • Contracted LNG and piped volumes vs demand (2015-2035)
  • Contracted LNG supply position versus available regas capacity (2015-2035)
  • Infrastructure map

What's included

This report contains:

  • Document

    Portugal gas and lng long-term outlook 2018.xlsx

    XLSX 157.64 KB

  • Document

    Portugal gas and LNG markets long-term outlook 2018

    PDF 1.23 MB

  • Document

    Portugal gas and LNG markets long-term outlook 2018

    ZIP 1.30 MB

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