According to the Corporation of Strategic Petroleum Product Reserves (CORES), an agency under the Ministry for Ecological Transition, in January 2026 Spain acquired 44.5% of its liquefied natural gas (LNG) from the United States.
An energy dependence that, according to some economists like José Carlos Díez, could be threatened if Donald Trump's warnings ended up affecting the supply to Spain. Should that channel close, the current balance of the national energy mix would be altered.
Natural gas accounts for around 20-21% of the primary energy supply in Spain. In addition, nearly 35% of the gas consumed is used for electricity generation in combined cycle power plants. In years with less wind or hydraulic production, its share can rise to contribute between 15% and 25% of electricity.
Díez recalls that in 2025 Spain already imported 45% of its gas from the United States. “Sánchez has opened a conflict with Trump in the midst of a global energy crisis and, if that channel were to close, the impact on gas and electricity could be serious,” he warns.
The question is whether that scenario is really viable and whether the US president would have the capacity to damage a key commercial relationship for the Spanish economy, its companies and households.
A solid gas infrastructure
Given this hypothetical scenario, Demócrata has exclusively interviewed the president of Sedigas, Joan Batalla Bejerano, who conveys a message of tranquility. Spain -he explains- has a solid gas infrastructure made up of regasification plants, transport and distribution networks that guarantee the security of supply both nationally and Europeanly.
Currently, the country has seven regasification plants that concentrate close to 30% of the European Union's capacity, which makes Spain an important gas logistics hub for the continent.
For Batalla, a direct intervention by Donald Trump to cut the supply is very unlikely. “Gas operators are private companies and do not depend on the US Administration. Furthermore, this market operates through numerous private contracts, some with destination clauses,” he explains.
“The American businessman -he adds- historically has not worried about the final destination of the gas. What he wants is to load the ship, collect payment, and for the buyer to take the product”.
The key: the price differential
However, Batalla does warn of a factor that is worth watching: the price differential between markets.
“What we must observe is what happens with that differential. It's not about them cutting off our supply, but about gas becoming more expensive,” he points out. In a global market, he adds, "there is always the possibility that a private operator decides to redirect shipments to regions where the price is higher, even paying contractual penalties."
However, it emphasizes that this situation is not currently occurring. It also recalls what happened in 2022 and 2023, when European demand was so high that ships remained days waiting to unload due to the lack of port capacity.
“We are in a global market and commercial flows must be monitored, especially in contracts without destination clauses. But we must also not forget that for American companies the European market is very attractive,” concludes.
“The Americans are delighted to sell us”
The economist Javier Santacruz Cano, an energy specialist, agrees that a supply cut would be “a chimera.” In his opinion, US companies are interested in selling gas to Spain and, if they also do so at higher prices, the incentive is even greater.
The economist Lorenzo Bernaldo de Quirós does warn, however, that a scenario of interruption would generate serious problems, aggravated by the country's limited fiscal capacity to respond to an energy crisis.
For his part, Santiago Calvo López, professor of Economics at the University of the Hesperides, points out that Spain would have to look for complex alternatives: from suppliers such as Qatar -conditioned by the situation in the Middle East- to Nigeria or Trinidad and Tobago, markets highly demanded by Asia. Another option, he recalls, "would be to increase purchases of Russian gas through intermediaries, as is already being done through the back door", he states.
Spain, gateway of LNG to Europe
For the geopolitical analyst Eduardo López García de Jaime, Spain has consolidated itself as one of the European countries with the greatest security of LNG supply thanks to its extensive regasification network and a purchasing system managed by private operators.
This model allows diversifying suppliers and acquiring gas with flexibility in international markets, reducing dependence on a single country. Furthermore, the close energy relationship with the United States turns Spain into one of the main entry points for LNG towards Europe.
However —he warns— the system also depends on the dynamics of the global market. In situations of international scarcity, gas tends to go towards buyers who pay higher prices, which would force Spain to compete with other powers for supply. Even so, the Spanish model is still considered one of the most resilient on the continent.
The role of gas in situations of emergency
This Thursday, Sedigas presented -through the Association of Economic Information Journalists- its report on the Spanish gas sector and the new remuneration framework for regulated activities for the period 2027-2032.
The document defends that gas infrastructures will continue to be strategic to guarantee supply security and facilitate efficient decarbonization both in homes and in the productive fabric.
According to Sedigas, the system offers the necessary flexibility to cover domestic demand, whose daily consumption can multiply by 17 during winter peaks, compared to a more stable industrial demand throughout the year.
The study also underlines the importance of gas for the electrical system, which needs a flexible, secure, and diversified infrastructure to support renewable generation.
As an example, the report recalls that during national emergencies -such as the blackout of the electrical system on April 28- the gas system guaranteed continuous supply to homes, businesses, industry, and combined cycle power plants.