Gas Natural SDG SA (GAS.MC) is not planning to take part in any consolidation moves in the Spanish energy industry, Chief Executive Rafael Villaseca said Tuesday.
Barcelona-based Gas Natural, Spain's largest gas distributor by market value, has been cited by local media as one of the possible players in upcoming deals with power utilities Iberdrola SA (IBE.MC) and Union Fenosa SA (UNF.MC).
Speaking on a conference call with analysts, Villaseca also said that the arbitration proceedings regarding the company's conflict with Algeria's Sonatrach shouldn't be completed before next year.
The arbitration was initiated in September by state-owned oil and gas company Sonatrach, against Spain's Repsol YPF SA (REP) and Gas Natural, claiming substantial damages over delays at the Gassi Touil project, a key natural gas joint venture at Algeria.