Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Natural Gas discovered underneath Basque town

Mon 17th Oct 2011

A gas field with potential to supply Spain's requirements for the next five years has been discovered under Alava in the Basque Country.

The regional president has reported that that surveys have identified 13 unconventional gas holdings of around 180 billion cubic meters in an area known as Gran Enara.

The president said how the regional government will invest 40 million euros in the project while the two privately held US companies, Heyco Energy and Cambria Europe, will invest 60 million euros between them.

Two wells are to be drilled initially see if extraction is technically feasible and economically viable.

Natuaral gas currently accounts for 42% of the region's energy demands, and Spain imports almost 100% of its gas and oil supply.

Non-conventional gas is fuel that is attached firmly to subterranean rocks, rather than sitting in pockets, and is more difficult and costly to extract.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs