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  • Naturgy is the largest integrated gas and electricity company in Spain and the third gas and electricity distribution company in the Iberian Peninsula. Furthermore, it is the third Spanish power player with 15GW of installed capacity.
  • Naturgy is present in more than 30 countries with a significant footprint in Latin America, where it operates in the biggest economies of the region. As a result, Naturgy provides services to more than 22 million customers worldwide.
  • It is one of the main gas midstream operators, with a portfolio of almost 30bcm and a fleet of 11 gas tankers.
  • Naturgy generates recurrent and positive free cash flow, allowing it to maintain an attractive dividend policy, with a dividend per share that grows 5% per annum, and the optionality of a share buy-back program.


Investment History


Key data

  • €23.9bn​


  • 24.02%

    Financial stake

  • 25.65%

    Voting rights

  • 2 out of 12


  • BBB / Baa2 /

    (Fitch, Moody's, S&P)

Data as of February 2019​​​