The recovery in the Spanish economy during 2015 was stronger than expected with an annual GDP growth of 2.8%, the highest registered since 2007. As a result, Spanish gas demand in 2015 was 29.4 bcm, 1% above our H1 view. From 2016 onwards, our expectation for gas demand growth has been revised downwards across the industrial, residential and power generation sectors. Despite lower prices, less gas will be used for power generation in Spain, particularly during the early 2020s. By 2035 we expect that gas demand will be 40.5 bcm, just below the 41.2 bcm from our previous estimate.