Geneva, 4 November 2008 – Essent Trading has been granted a license for trading natural gas on the Spanish market, giving the energy trading firm access to one of Europe’s most important gas markets.

The license, granted by the Spanish Ministry of Industry, Tourism and Commerce on 29 September, enables Essent Trading to actively trade in the Spanish gas market. As 50 percent of the European import of LNG comes through Spain, Essent Trading will be looking to leverage the size and growth potential of the Spanish gas market for its pan-European portfolio. From an energy trading perspective, Spain is also an attractive market given its drive for sustainable and renewable energy and the newly liberalised gas market.

Earlier this year, Essent Trading confirmed its presence in the Spanish market with the official opening of a local representative office in Madrid, under the management of Maria Fernandez Arguelles as Vice President of Iberian Origination. Essent Trading will play an important role in the Spanish market in bringing competition and new solutions, services and products to the market. Essent Trading is actively looking for asset and partnership opportunities across the Iberian Peninsula.