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Spanish Senate approved a new law on hydrocarbons

Spanish Senate approved a new law on hydrocarbons
18/05/2015

Tuesday,  May 14th, Spanish Senate approvedyesterday a new law on hydrocarbons. Main issues:

·        fracking technique: officially recognized and subjected to preferential tax regime as anoffshore activity.

·        concurrence in the downstream: modified the limit of 30% of the market shareof each company in each provinces (volume of sold fuel)

·        secondary gas market: non-EU companies marketing authorization eliminated

DavidAlameda, Shale Gas España Director General stated that this new law “get theexploration and production benefits close to the communities coexisting withthe projects” and, at the same time, “ it’s an award to the contribution theseactivities provide to the society”.






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