In recent months there have been discussions between Spain and France to see who was buying the most energy from the other country. But the figures published this Thursday by the Ministry of Industry and Commerce close the controversy: for the first time Spain sold more energy to France than it bought. What’s more, the amount of energy that it sold to the neighboring country in 2022 was triple that of 2021, reaching 3,313 million euros.
From France, 2,127 million euros in energy were imported, 27% more than in 2021, but the fact is that sales were 200% higher. Historically, Spain had always been a net importer with France in terms of energy, but last year the tables turned. This was explained in a meeting with the media by the Secretary of State for Trade, Xiana Méndez, where she also pointed out that Spain has exported twice as much energy to Portugal in 2022 and ten times more to Morocco, to give other examples.
Behind this increase is the Iberian exception, which has managed to reduce the price of the gas that Spain exports to the countries, making purchases more attractive.
In total, Spain exported energy products worth 38,362 million euros last year, according to the ministry’s annual data, 9.8% of total sales abroad and 80% more than what it exported in 2021. the 158% increase in the sale of electricity to 7,089 million euros, followed by gas (97% more than in 2021) to 2,124 million, and 67% more oil and derivatives to 29,050 million euros.
Total exports grew by 23% in 2022 to reach a record of 389,000 million euros, mainly motivated by the increase in sales of energy products by 80%, according to data from the ministry. However, the Spanish trade deficit shot up 160% to 68,000 million due to the increase in imports more than exports, especially energy. Total purchases increased by 33.4% in 2022 to 457,321 million euros, also an all-time high, mainly due to the rise in international prices for energy products and also the greater volume of imported energy.
Spain imported twice as much energy in 2022
Thus, Spain imported twice as much energy in 2022 from abroad than the previous year. In total, we purchased energy products worth 90,880 million euros, 95% more. This increase is mainly due to the 174% increase in the purchase of gas (in addition to 95% more electricity and 72% more oil) due to the increase in international energy prices, but also due to the reactivation of the economy and transportation after the pandemic, in addition to the need for supplies so that gas reserves would be at a good level in the event that Russia cut off the supply, Méndez explained.
The recovery of the tourism sector and international mobility in 2022 made it necessary to import more fuels, in addition to the reactivation of the industry that required the importation of more energy to develop its activity, sources from the Ministry of Industry and Commerce pointed out.
Specifically, the data indicates that the volume of imported energy has increased by 23.3%, while the cost has doubled in one year (95% more) to 90,880 million euros.
33% more gas purchases from Russia
The United States is already Spain’s leading supplier of liquefied natural gas (LNG) with an increase in imports of 33% in 2022.
The situation with Russia stands out, a country from which Spain imported 33% more energy than in 2021 despite the vetoes. From the ministry they explain that this increase is due to the “notable increase” in energy prices and not to the volume. Méndez pointed out that since last May Spain has stopped buying crude oil from Russia and since August it has stopped importing coal, but spending on Russian natural gas has tripled this year compared to 2021 prices.