Endesa-Gas Natural agreement

Spain`s Endesa and Gas Natural have announced an agreement under which they will collaborate in a wide range of energy activities. Both companies hope they will be able to improve efficiency and make cost savings through the plans. The deal includes natural gas supply, the construction of new generating capacity, gas distribution and international expansion.

Under a long term contract, Gas Natural will supply a “significant” part of Endesa`s estimated fuel needs for its CCGT-based new capacity programme. In addition, the two companies will collaborate in the construction of four new CCGT power plants in Spain, two in San Roque and two in San Adria de Besos. Both groups have also committed to jointly study and develop energy projects in international markets, especially in Latin America.