Naturgy: its assets in Latin America

Naturgy, a Spanish natural gas and electric power utility company, recorded a 4.5% year-on-year rise in its assets in Latin America during 2021, to 7,274 million euros.

Formerly called Gas Natural Fenosa, the company stands out in the gas business (supply, liquefaction, regasification, transportation, storage, distribution and marketing) and electricity (generation, transportation, distribution and marketing).

In 2021, its assets in Chile were 2,316 million euros (2020: 2,385 million), in Mexico they totaled 2,146 million (2020: 2,040 million) and in Panama they were 1,342 million (2020: 1,232 million).


Its business model is developed through a large number of companies mainly in Spain, Latin America (Argentina, Chile, Brazil, Mexico and Panama) and Australia.

Naturgy organizes its businesses around three strategic areas (Energy and Network Management, Renewables and New Businesses and Marketing) that provide visibility of the evolution of the businesses and on the basis of which the following operating segments are defined:

Energy and Network Management:

▪Iberia Networks: includes the gas network and electricity network businesses in Spain.

▪Latin American Networks: includes the gas network businesses in Argentina, Chile, Brazil and Mexico and the electricity network businesses in Argentina and Panama.

▪Energy Management: encompasses the businesses of International LNG Marketing, Markets and Supplies, Gas Pipeline Management, Thermal Generation Spain and Thermal Generation Latin America (Mexico, Dominican Republic and Puerto Rico).

Renewables and New Businesses:

▪Renewables Spain and the United States: includes the management of the park and the generation projects for hydraulic, wind, mini-hydraulic, solar and cogeneration energy sources. Until 2020, the activities included in this segment were carried out exclusively in Spain. In 2021, Naturgy has acquired an 8 GW solar project portfolio in the United States together with 4.6 GW of energy storage projects, of which 25 projects for a total of 3.2 GW of solar and 2 GW of storage could be operational before 2026.

▪Renewables Latin America: includes the management of the park and the renewable electricity generation projects of Global Power Generation (GPG) located in Latin America (Brazil, Chile, Costa Rica, Mexico and Panama).

▪Renewables Australia: includes the management of the park and renewable electricity generation projects of GPG located in Australia.

Marketing od Naturgy:

Its objective is to manage the commercial model for end customers for both gas, electricity and services, incorporating new technologies and services and developing the full potential of the brand.


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