
Europe's hydrogen infrastructure faces 2-3 year delay, Enagas CEO says
The firm is among the staunchest supporters of the
green hydrogen industry
, which uses renewable energy for its production.
Earlier this year, Enagas pledged to invest more than 4 billion euros by the end of the decade, mostly to diversify into managing a network of hydrogen infrastructure.
It plans to build a 2,600 km (1,615 mile) hydrogen network in Spain to be connected to the planned trans-European
H2Med corridor
aimed at connecting the Iberian region with northwest Europe.
Enagas still expects the Spanish network to be ready by 2030. However, at the European level delays of two or three years are likely, Chief Executive Arturo Gonzalo said.
"Are there delays in Europe? I would say delays of a very limited scope...Different member states are setting the launch date for their hydrogen infrastructures between 2030 and 2032," he said.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


India Today
an hour ago
- India Today
Iran to continue nuclear talks with Europe amid looming UN sanctions
Iran said it would continue nuclear talks with European powers after "serious, frank, and detailed" conversations on Friday, the first such face-to-face meeting since Israel and the US bombed Iran last the meeting in Istanbul, Iran also pushed back on suggestions of extending the United Nations resolution that ratifies a 2015 deal, nearing expiry, that was designed to curb its nuclear from the European Union and so-called E3 group of France, Britain and Germany met Iranian counterparts for about four hours at Iran's consulate for talks that the UN nuclear watchdog said could provide an opening to resume inspections in AND EUROPEANS PRESENT IDEAS Iranian Deputy Foreign Minister Kazem Gharibabadi said afterward that both sides had presented specific ideas on sanctions relief and the nuclear issue."While seriously criticising their stances regarding the recent war of aggression against our people, we explained our principled positions, including on the so-called snapback mechanism," he said."It was agreed that consultations on this matter will continue."The European countries, along with China and Russia, are the remaining parties to the 2015 deal - from which the US withdrew in 2018 - which lifted sanctions on Iran in return for restrictions on its nuclear programme.A deadline of October 18 is fast approaching when the resolution governing that deal that point, all UN sanctions on Iran will be lifted unless the "snapback" mechanism is triggered at least 30 days before. This would automatically reimpose those sanctions, which target sectors from hydrocarbons to banking and give time for this to happen, the E3 have set a deadline of the end of August to revive diplomacy. Diplomats say they want Iran to take concrete steps to convince them to extend the deadline by up to six WANT NUCLEAR COMMITMENTS FROM IRANIran would need to make commitments on key issues including eventual talks with Washington, full cooperation with the UN's International Atomic Energy Agency (IAEA), and accounting for 400 kg (880 pounds) of near-weapons-grade highly enriched uranium, whose whereabouts are unknown since last month's the talks, an Iranian foreign ministry spokesperson had said Tehran considered talk of extending UN Security Council Resolution 2231 to be "meaningless and baseless".IAEA head Rafael Grossi said he was optimistic that nuclear inspection visits might be able to restart this year and that it was important to discuss the technical details now."We need to agree on where to go, how to do it. We need to listen to Iran in terms of what they consider should be the precautions to be taken," he told reporters in United States held five rounds of talks with Iran prior to its airstrikes in June, which US President Donald Trump said had "obliterated" a programme that Washington and its ally Israel say is aimed at acquiring a nuclear NBC News has cited current and former U.S. officials as saying a subsequent US assessment found that while the strikes destroyed most of one of three targeted nuclear sites, the other two were not as badly denies seeking a nuclear weapon and says its nuclear programme is meant solely for civilian purposes.- Ends
&w=3840&q=100)

Business Standard
2 hours ago
- Business Standard
Petronet Q1 net profit falls 25%; to invest ₹6,355 cr in new LNG terminal
Petronet LNG Ltd, India's largest gas importer, on Friday reported a 25 per cent drop in its June quarter net profit, and said it will invest ₹6,355 crore in setting up a new import facility at Odisha. Net profit of ₹850.58 crore in April-June was lower than ₹1,141.58 crore last year, mainly because of lower volumes imported due to a fall in power demand on early arrival of monsoon. The firm's Dahej liquefied natural gas (LNG) import terminal in Gujarat imported 207 trillion BTUs (British thermal unit) as compared to 248 TBtus in April-June 2024, its chief executive, A K Singh, told reporters on an earnings call. Overall, the company processed 220 TBTUs in April-June - the first quarter of the current 2025-26 fiscal - as opposed to 262 TBTUs last year. "LNG throughput in Q1 is lower than corresponding quarter mainly because there was a severe power requirement (in April-June 2024) which necessitated substantial LNG imports," he said, adding this year early and severe monsoon rains lower demand for electricity, and hence reduced demand for LNG (which is used to generate power). There were also shutdowns of fertiliser plants in the quarter, he said. He said the Dahej terminal operated at 92 per cent capacity in Q1 as compared to best ever utilisation of 110 per cent in the same period last year. On the demand outlook, he said city gas volumes have picked up and so is the demand by the petrochemical sector. In the second quarter (July-September), the Dahej is back to near 100 per cent capacity operation, he said. Singh said the company board has also accorded in-principle additional investment approval for setting up of a 5 million tonnes a year land-based LNG terminal at Gopalpur. This is in place of earlier approval of 4 million-tonne Floating Storage and Regasification Unit (FSRU) based LNG terminal for an incremental project cost of ₹4,048.80 crore. The overall approved value of the project is ₹6,354.80 crore (including taxes and duties), he said, adding it would take three years to construct the facility. Besides Dahej, Petronet also has a 5 million tonnes a year import terminal at Kochi in Kerala, but it operates at less than a quarter of its capacity because of a lack of pipelines to take imported fuel to customers. While the capital expenditure has increased - from ₹2,300 crore for a floated import unit (called FSRU) to ₹6,354.80 crore land-based fixed terminal, the operating expenses (opex) have substantially reduced to ₹450-500 crore, he said. The decision to shift to a land-based terminal was also taken because of the tight market for FSRUs in view of European countries using them to import gas in place of the volumes they used to receive from Russia.


NDTV
2 hours ago
- NDTV
"50-50 Or Less": Trump On Possibility Of European Union Trade Deal
US President Donald Trump estimated Friday there was a 50 percent chance of Washington being able to strike a deal with the European Union to reduce import tariffs. In an attempt to slash his country's trade deficits, Trump has vowed to hit dozens of countries with punitive tariff hikes if they do not hammer out a pact with Washington by August 1. "I would say that we have a 50/50 chance, maybe less than that, but a 50/50 chance of making a deal with the EU," Trump told reporters while leaving the White House for a trip to Scotland. His administration promised "90 deals in 90 days" as it delayed the imposition of higher duties in April, but has so far unveiled just five agreements, including with Britain, Japan and the Philippines. The EU's 27 countries have been allowing the European Commission to focus on seeking a deal to avoid hefty US tariffs, with Trump threatening 30-percent levies without an accord by month's end. Brussels and Washington appear to be inching towards a deal with a baseline 15-percent US levy on EU goods, and potential carve-outs for critical sectors, multiple diplomats have told AFP. But EU states on Thursday backed a package of retaliation on $109 billion (93 billion euros) of US goods -- to kick in from August 7 if talks fall short. Trump claimed that most of the deals he was seeking had been completed, although he made clear that he was talking about sending letters imposing tariffs on US trade partners, rather than negotiating free trade agreements. Tariffs charged on other countries are ultimately passed on as a sales tax to US consumers, because they are paid by importers, not the country supplying the goods or services. "I don't want to hurt countries, but we're going to send a letter out some time during the week, and it's basically going to say, 'You're going to pay 10 percent, you're going to pay 15 percent, you're going to pay maybe less,' I don't know," Trump told reporters. Trump said his negotiators were working "diligently" with EU officials, but he added that "we haven't really had a lot of luck" in talks with Canada, which Trump has threatened with a 35 percent tariff. The United States and China, Washington's third-biggest partner in goods trade this year, have the "confines of a deal," Trump told reporters. Stock Markets Stall Stock markets stalled Friday as the latest trade-related rally lost steam and US President Donald Trump rated the chances of Washington striking a trade deal with the European Union at barely 50/50. Wall Street indices stood barely in the green some 20 minutes into the session as investors also digested a mixed batch of corporate earnings, while major European indices were all down and Asia closed off. Equities have enjoyed a strong run for much of July on expectations that governments will reach agreements with the United States to dodge threatened tariffs before next Friday's deadline. But Trump cautioned that in his view striking a deal with the European Union to reduce import tariffs will be a challenge. "I would say that we have a 50/50 chance, maybe less than that, but a 50/50 chance of making a deal with the EU," Trump told reporters at the White House. Sentiment had been lifted earlier in the week by the announcement of a Japan-US deal, as well as signals that the EU could be closing in on its own accord with Washington. The "momentum has not been kept up, and European stocks are weaker at the end of the week," said Kathleen Brooks, research director at trading group XTB. Trade optimism stayed cautiously upbeat, as Brussels and Washington appeared close to a deal that would halve Trump's threatened 30 percent levy, with a European Commission spokesman saying he believed an agreement was "within reach". However, "there has been no confirmation from the US side... thus, sentiment towards European assets could be fragile as we lead up to that August 1 tariff deadline", Brooks added. The EU is still forging ahead with contingency plans in case talks fail, with member states approving a 93 billion-euro ($109 billion) package of counter-tariffs. With few positive catalysts to drive buying, Asian markets turned lower heading into the weekend. Tokyo retreated after a two-day rally and Hong Kong declined following five days of gains. Shanghai was also down. While the S&P 500 and Nasdaq hit new records Thursday, another round of strong jobs data suggested the US Federal Reserve might have to delay cutting borrowing costs. The dollar extended gains against its major peers as investors trimmed their rate forecasts. The US president once again pressed Fed chief Jerome Powell to slash interest rates during a visit to its headquarters on Thursday.