The CEO of Enagás, Arturo Gonzalo Aizpiri, has called on European institutions for a “clear commitment” to a “rapid” adoption of green hydrogen, following the example of China. When comparing European performance in this area, he gives it a grade of notable, considering that “it can improve”: “I hope it lives up to expectations,” he stressed.
“Moments like the present, where geopolitical crises translate above all into turbulence in the hydrocarbon markets, must make us react at the European level with a clear commitment in favor of the rapid adoption of green hydrogen, as China is doing, for example,” which launched a major national program to accelerate the adoption of green hydrogen in industry after the start of the war in Iran by the United States and Israel.
In this context, Gonzalo has warned that in Europe “insufficient attention is being paid to renewable molecules and green hydrogen in particular,” despite the “great strategic challenge” facing the Union to become a “more autonomous and more resilient” region.
Even so, “viewing it in its historical perspective,” he assigns the European response a score of 7.5 out of 10, which represents “a notable,” although he considers that “it can undoubtedly be improved in the coming times” and that this “obliges us to apply ourselves.”
“We are going to have moments to live up to expectations, and I hope Europe does,” he added.
These reflections were made during his speech at the seminar organized this week by the Association of Economic Information Journalists (APIE) and the Menéndez Pelayo International University (UIMP) in Santander.
Regarding the situation in Spain, he highlighted the “very important steps” and the “clear commitment” of the Government to renewable energies, clean electricity generation, and green gases, with special emphasis on renewable hydrogen.
“The Government, without a doubt, is giving its full support to the rapid adoption of renewable gases in Spain,” he stated.
The return to “full normality” in gas prices
Gonzalo indicated that crises that suddenly disrupt the energy market have become a “structural” phenomenon and reviewed episodes such as the DANA of 2024, the blackout of 2025, and the conflict in the Middle East of 2026, calling to “be prepared” to face them.
In this regard, he highlighted that Spain has demonstrated “response capacity” to face the latest crisis from the perspective of supply security, although he acknowledged a strong economic impact: around 500 million euros per day for Europe and an accumulated additional cost of 1 billion euros in the gas bill for Spain.
“The summary is that the Spanish gas system is providing a shield against crises, against the volatility of the geopolitical situation for Spain and Europe” and that it represents “long-term aid” for the country, although he insisted that “it must be complemented by the development of domestically produced energy.”
Likewise, he pointed out that the gas futures market anticipates “full normality” of prices towards the second half of 2027 or early 2028, at which point a “slow fall” in gas costs is expected from around 40 euros per megawatt to return to levels close to the pre-crisis levels of 30 euros per megawatt. However, he recalled that it is a “quite volatile” market and that “a new event in the development of the Gulf crisis can significantly change the future outlook.”
Divestment in Enagás Renovable and the green hydrogen horizon
On the other hand, he estimated that price parity between green hydrogen and fossil hydrogen could be reached by the end of this decade, with the aim of setting the cost at around four euros per kilogram.
In relation to business strategy, Gonzalo detailed Enagás’ divestment process in its subsidiary Enagás Renovable, in which it retains a 20% stake as a minority shareholder, without “control capacity” over the company.
“Up to now, the rules of the game under which we are operating come from CNMC resolutions that have been limiting our scope of action in the renewable gases sector, and the main criterion of these resolutions is that, in those assets that begin to produce molecules or electrons for the gas system or for the electricity system, Enagás must cease to exercise political rights and must move to play a purely financial investor role,” he explained.
“That minority role can be extended for more or less time. From a regulatory point of view, we believe there is no longer any urgency, because we can no longer exercise that control role over assets that are contributing molecules or electrons to the system,” he added.
“We are staying because we want to accompany the majority partner for a while, for as long as we deem appropriate, but, of course, the medium or long-term horizon is one of divestment,” Gonzalo reaffirmed.
