Spain to reject Russian LNG despite its companies' contracts - FM

The Spanish authorities intend to ban imports of Russian liquefied natural gas from January 1, 2027, despite existing contracts held by Spanish companies for supplies of Russian energy resources, Spanish Foreign Minister Jose Manuel Albares said, Report informs.

Speaking at the Atlantic Council in Washington, he noted that Madrid would comply with the relevant restrictions previously adopted by the European Union. "In fact, these sanctions could not have been introduced without Spain's consent, as some Spanish companies have existing contracts. As you know, LNG supply contracts are concluded years in advance. These are very long-term contracts. This is not something that can be decided at the last minute, which is why they remain in force for decades. We intend to comply with the requirements of the new sanctions," the minister said.

He added that Spain has some of the largest LNG storage and processing capacities.

"This also opens up opportunities for the rest of Europe. We can help them with LNG supplies from reliable partners, such as the United States," the Spanish foreign minister said.