Gas Natural to extends Qatar LNG imports by 5 bcm

MADRID, July 24 (Reuters) - Spain's Gas Natural (GAS.MC: Quote, Profile, Research, Stock Buzz) on Thursday said it had reached a framework agreement to extend its imports of liquefied natural gas (LNG) from Qatar by 5 billion cubic metres (bcm) in the medium- to long term.

In a brief statement, the energy company gave no financial details but recalled that it hoped to expand its total portfolio of LNG imports by 9 bcm to 35 bcm between 2008 and 2012.

Gas natural currently imports about 2 bcm a year from Qatar.

Spain imports virtually all of its gas, and 68 percent of it in 2007 arrived as LNG via six regasification plants and the rest via pipelines.

Last year, Spain imported 5,123 gigawatt-hours -- or about 5 bcm -- of gas, or 12.9 percent of total, from Qatar. The country's biggest supplier is Algeria, which accounts for 34.5 percent of Spain's supplies.

Earlier this year, distribution company Enagas (ENAG.MC: Quote, Profile, Research, Stock Buzz) forecast that Spanish consumption would rise by 10.1 percent to 449,580 gigawatt-hours (about 43 bcm) in 2008. (Reporting by Martin Roberts)