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Naturgy foresees less gas from long-term contracts by 2027

Published by Global Banking & Finance Review

Posted on February 20, 2025

1 min read

· Last updated: February 27, 2026

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MADRID (Reuters) - Spanish energy firm Naturgy expects a 19% decline in the volume of natural gas it gets from long-term contracts as it plans to replace them in part with biomethane, Executive

Naturgy Anticipates 19% Drop in Long-Term Gas Contracts by 2027

MADRID (Reuters) - Spanish energy firm Naturgy expects a 19% decline in the volume of natural gas it gets from long-term contracts as it plans to replace them in part with biomethane, Executive Chairman and CEO Francisco Reynes said on Thursday.

The company expects volumes bought through long-term contracts to fall to 170 terawatt-hours (TWh) in 2027 from 210 TWh in 2024, he said.

Reynes partly attributed the decline to two expiring contracts, one with Oman and the other with Italy's Eni.

(Reporting by Pietro Lombardi, editing by Inti Landauro and David Evans)

Key Takeaways

  • Naturgy expects a 19% reduction in long-term gas contracts by 2027.
  • The company plans to replace some gas with biomethane.
  • Gas volumes from contracts to fall from 210 TWh in 2024 to 170 TWh in 2027.
  • Two contracts with Oman and Eni are expiring.
  • CEO Francisco Reynes announced the strategic shift.

Frequently Asked Questions

What is Naturgy's forecast for long-term gas contracts by 2027?
Naturgy expects a 19% decline in the volume of natural gas from long-term contracts, projecting a drop from 210 terawatt-hours (TWh) in 2024 to 170 TWh in 2027.
What reasons did Naturgy provide for the decline in gas volumes?
The decline is partly attributed to two expiring contracts, one with Oman and another with Italy's Eni.
How is Naturgy planning to replace the declining gas supply?
Naturgy plans to replace part of the declining gas supply with biomethane as part of its strategy.

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