August 15, 2015 / 4:07 PM / 4 years ago

Endesa seeks to quadruple Portugal gas market share -newspaper

LISBON, Aug 15 (Reuters) - Spain’s Endesa plans to quadruple its share of natural gas sold to companies in neighbouring Portugal by 2018, when it should reach 14 percent of the market, the Expresso weekly newspaper quoted a company official as saying in its Saturday edition.

Endesa Portugal business area director Miguel Campos told Expresso the company’s contracts in Portugal now encompass annual deliveries of 3.4 terawatts hours (TWh) of natural gas, or 11.9 billion cubic feet (bcf), but by the end of 2015 the contracted amount should reach 4 TWh.

“At an initial phase, our bet will be on large-scale clients,” Campos was quoted as saying.

At the end of last year, Endesa’s gas sales to Portuguese companies made up 3.5 percent of that market segment and 80 percent of Endesa gas contracts in Portugal.

Endesa is already the second-largest supplier of electricity in Portugal, with an 18.5 percent market share, Expresso said, adding that while its sales to the residential segment have weakened over the past few years, it has grown in the business sector, especially industry. (Reporting By Andrei Khalip, editing by David Evans)

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