The Castor project was the great idea of ​​Spain to self -ability. Now you are selling it by pieces

Spain always has pursued concern around natural gas. More than 15 years ago its main sources were Algeria and Russia, but not to be energy dependent, the State promoted the Castor project. This initiative It arose as a possible response to face these challenges and reduce the vulnerability of the Spanish nation in the face of possible energy crises. However, a study confirmed That the gas injection of the year 2012 caused the earthquakes of Castellón, so a year later the Minister of Industry at that time ordered its closure. Now the current government has decided to sell it in parts.

A little context. THE CASTOR PROJECT It was promoted by the Zapatero government and continued under the Rajoy Executive, being the ACS construction company, controlled by Florentino Pérez, responsible for the execution. The infrastructure was managed by the Concessionaire Escal Ugs, an ACS subsidiary. All this, He explains it Chronologically a citizen association that has denounced the case.

How was it going to be? The Castor project consisted of an underwater natural gas warehouse located off the coast of Castellón, designed to store gas in an underwater deposit about 1,700 meters deep. It had the capacity to store approximately 1.9 BCM (billions of cubic meters) of gas and consisted of a marine platform, a gas pipeline of 30.3 kilometers in length, and a land plant in Vinaròs.

And the problems came … Just for the earthquakes, was it closed? No, like Eldiario.es explained The initiative had a few challenges from the beginning. The reasons were different, such as their profitability, their environmental impact and the fact that it did not turn out to be as necessary as it had initially raised, given The great capacity of the regasifying of gas in Spain. Given this situation, the project was tried to sell in search of some type of economic solution. However, they did not find a solution to the problem, so finally the ACS company He abandoned it and the dismantling process began.

A decade of the castor’s fiasco. Ten years later, the Castor project remains a clear example of billionaire failure. The submarine gas warehouse that ACS built In front of the coast of Castellón and Tarragona, it only operated in tests and never reached its full functionality. The result is known: an unusable infrastructure and a billionaire hole that has ended up paying the taxpayer, accompanied by a waterfall of judicial litigation without those responsible for being identified.

Definitive closure. As They have advanced Different media, the third vice president and minister for ecological transition and demographic challenge, Sara Aagesen, has confirmed that the dismantling of the underwater warehouse will begin in May after the sealing of the thirteen underwater wells. In addition, what can be recovered from the project will be sold to reduce losses, which are encrypted by about 260 million euros.

Why that figure? It all starts during the Rajoy government in 2014, which It was approved Express compensation of 1,350 million euros for the construction company ACS through a Royal Decree-Law. However, this compensation, which should be paid for 30 years through the gas bill, was declared unconstitutional in 2017, which paralyzed payments to financial entities. Finally, the State had to borrow to compensate the bank.

The litigation began. During those years, the facilities have cost more than 100 million euros for more than 11 years, when the Concessionaire Escal Ugs resigned from the project. However, the National Court has forced ESPS, the company controlled by ACS, to return 209.7 million euros in “financial compensation” that charged between 2014 and 2017, after the judgment of the Constitutional Court that annulled the payments. However, it remains to be seen if the company will comply with this obligation, since Escal Ugs entered into a creditors’ contest In 2019. As for the criminal derivative, in 2021 the Castellón audience acquitted on step Already its directors of a crime against the environment and natural resources, a fact that underlines the lack of responsible for the Fiasco.

A classic example of loss socialization. The Castor project is an example of “socialization of losses”, where the consequences of failure fell on the taxpayer, while financial entities, which had advanced money in exchange for charging it with interest for 30 years, were compensated by the State. Despite the controversies, the ACS company benefited from this compensation, despite the fact that its president, Florentino Pérez, declared that the project was a “misfortune” For his company, which represented only 1% of the ACS billing.

A great legislative error. So it was indicated by the Independent Fiscal Responsibility Authority (Airef)as one of the most expensive in the energy sector, concentrating more than half of the compensation paid by the State in recent years. This case has evidenced the need to carry out more rigorous studies on the technical, economic and environmental viability of the projects, especially when they involve geological risks or impacts in local communities. In addition, it has evidenced the importance of greater transparency in decision -making and public fund management.

Image | Zarateman and Albertodv

Xataka | 2025 is the beginning of the end for gas boilers in Spain. European regulations have started its long withdrawal