Table of Contents Executive Summary Market value Market value forecast Market volume Market volume forecast Category segmentation Geography segmentation Market share Market rivalry Market Overview Market definition Market analysis Market Data Market value Market volume Market Segmentation Category segmentation Geography segmentation Market share Market Outlook Market value forecast Market volume forecast Five Forces Analysis Summary Buyer power Supplier power New entrants Threat of substitutes Degree of rivalry Leading Companies Compania Espanola de Petroleos S.A. (CEPSA) Endesa, S.A. Gas Natural Fenosa Macroeconomic Indicators Country data Methodology Industry associations Related MarketLine research Appendix About MarketLine List of Tables Table 1: Spain gas utilities industry value: $ billion, 2011–15 Table 2: Spain gas utilities industry volume: billion cubic feet, 2011–15 Table 3: Spain gas utilities industry category segmentation: $ billion, 2015 Table 4: Spain gas utilities industry geography segmentation: $ billion, 2015 Table 5: Spain gas utilities industry share: % share, by volume, 2015 Table 6: Spain gas utilities industry value forecast: $ billion, 2015–20 Table 7: Spain gas utilities industry volume forecast: billion cubic feet, 2015–20 Table 8: Compania Espanola de Petroleos S.A. (CEPSA): key facts Table 9: Compania Espanola de Petroleos S.A. (CEPSA): key financials ($) Table 10: Compania Espanola de Petroleos S.A. (CEPSA): key financials (€) Table 11: Compania Espanola de Petroleos S.A. (CEPSA): key financial ratios Table 12: Endesa, S.A.: key facts Table 13: Endesa, S.A.: key financials ($) Table 14: Endesa, S.A.: key financials (€) Table 15: Endesa, S.A.: key financial ratios Table 16: Gas Natural Fenosa: key facts Table 17: Gas Natural Fenosa: key financials ($) Table 18: Gas Natural Fenosa: key financials (€) Table 19: Gas Natural Fenosa: key financial ratios Table 20: Spain size of population (million), 2011–15 Table 21: Spain gdp (constant 2005 prices, $ billion), 2011–15 Table 22: Spain gdp (current prices, $ billion), 2011–15 Table 23: Spain inflation, 2011–15 Table 24: Spain consumer price index (absolute), 2011–15 Table 25: Spain exchange rate, 2011–15 List of Figures Figure 1: Spain gas utilities industry value: $ billion, 2011–15 Figure 2: Spain gas utilities industry volume: billion cubic feet, 2011–15 Figure 3: Spain gas utilities industry category segmentation: % share, by value, 2015 Figure 4: Spain gas utilities industry geography segmentation: % share, by value, 2015 Figure 5: Spain gas utilities industry share: % share, by volume, 2015 Figure 6: Spain gas utilities industry value forecast: $ billion, 2015–20 Figure 7: Spain gas utilities industry volume forecast: billion cubic feet, 2015–20 Figure 8: Forces driving competition in the gas utilities industry in Spain, 2015 Figure 9: Drivers of buyer power in the gas utilities industry in Spain, 2015 Figure 10: Drivers of supplier power in the gas utilities industry in Spain, 2015 Figure 11: Factors influencing the likelihood of new entrants in the gas utilities industry in Spain, 2015 Figure 12: Factors influencing the threat of substitutes in the gas utilities industry in Spain, 2015 Figure 13: Drivers of degree of rivalry in the gas utilities industry in Spain, 2015 Figure 14: Compania Espanola de Petroleos S.A. (CEPSA): revenues & profitability Figure 15: Compania Espanola de Petroleos S.A. (CEPSA): assets & liabilities Figure 16: Endesa, S.A.: revenues & profitability Figure 17: Endesa, S.A.: assets & liabilities Figure 18: Gas Natural Fenosa: revenues & profitability Figure 19: Gas Natural Fenosa: assets & liabilities

Compania Espanola de Petroleos S.A. (CEPSA) Endesa, S.A. Gas Natural Fenosa