Naturgy Explained

Naturgy Energy Group, S.A.
Former Name:Gas Natural Fenosa, S.A.
Type:Sociedad Anónima
Industry:Natural gas utility
Foundation:1991
Location:Barcelona (administrative), Madrid (legal)
Key People:Francisco Reynés (Chairman and CEO)
Products:Supply, distribution and commercialisation of natural gas, electricity generation and distribution
Revenue: €23.306 billion (2017)[1]
Operating Income: €3.915 billion (2017)
Net Income: €1.360 billion (2017)
Assets: €47.322 billion (end 2010)
Num Employees: 18,780 (end 2010)
Homepage:www.naturgy.com

Naturgy Energy Group S.A., formerly Gas Natural Fenosa (pronounced as /es/), is a Spanish multinational natural gas and electrical energy utilities company, which operates primarily in Spain. The company's administrative headquarters are in Barcelona, while its legal headquarters are in Madrid.[2]

It also has operations in other countries, including: Italy, France, Germany, The Netherlands, Belgium, Mexico, Colombia, Argentina, Brazil, Moldova, and Morocco, as well as the U.S. territory of Puerto Rico.

Description

The corporation's main interests are: the distribution of natural gas in Spain, Italy, and Latin America; the generation and commercialisation of electricity in the liberalised Spanish market (1997-2009);[3] and the management of natural gas infrastructure and shipping transport.

Gas Natural has approximately 10,000,000 energy clients worldwide. It has around 6,700 employees, of which approximately 50% work within Spain.

The group's largest shareholders include the Spanish La Caixa bank and Repsol global energy company.

Gas Natural acquired utility company Unión Fenosa for around €16.8 billion in 2009.[4]

In June 2018, the general shareholders meeting of Gas Natural approved the change of name of the company to Naturgy Energy Group.[5]

Headquarters

See main article: Gas Natural Building. The company's administrative headquarters complex, Gas Natural Building or Mare Nostrum Tower, is located in the La Barceloneta neighbourhood of the Ciutat Vella district in Barcelona. The skyscraper was designed in the High-tech architectural style by the EMBT Architects firm of architects Enric Miralles and Benedetta Tagliabue, and was completed in 2005.

Its legal headquarters were moved to Madrid in 2017, because of the Catalonia independence crisis.[6] [7] Naturgy's Madrid headquarter complex is located in the district of Hortaleza. These headquarters are a building complex of 14 buildings that Naturgy bought in 2016.[8]

See also

Notes and References

  1. Web site: Annual Report 2010 . 25 April 2011 . Gas Natural . es . 16 March 2012 . https://web.archive.org/web/20120316022044/http://portal.gasnatural.com/servlet/BlobServer?blobcol=urllink&blobtable=InformeGN&blobkey=id&blobwhere=1301393572936&blobheader=application%2Fpdf . dead .
  2. News: Gas Natural to move HQ to Madrid from Barcelona. Lombardi. Pietro. MarketWatch. 2017-10-10. en-US. 2017-10-10. https://web.archive.org/web/20171010210529/http://www.marketwatch.com/story/gas-natural-to-move-hq-to-madrid-from-barcelona-2017-10-06. dead.
  3. News: La liberalización del sector eléctrico español . 22 July 2017 . Expansión . es.
  4. News: Gas Natural sees Fenosa deal closing in 2009. Ruano. Carlos. MacInnes, Judy. 31 July 2008. Reuters. Forbes. 2009-01-11.
  5. News: Gas Natural Will Seek Purchases And Mergers After Becoming Naturgy. 28 June 2018. The Corner. The Corner.
  6. News: Gas Natural opts to move legal HQ out of Catalonia over crisis . 21 May 2021 . El País . 6 October 2017.
  7. News: Gas Natural Fenosa moves from Catalonia to Madrid . 21 May 2021 . Offshore Energy . 9 October 2021.
  8. Web site: Avenida de San Luis, 77 . IBA Capital partners . 21 May 2021.