Gas Natural SDG SA, Spain’s largest natural gas supplier, has pledged to spend €12bn in new energy investments, including targets for expansion in South American LNG projects.

Having increased third quarter profit by 13% on sales at home and in Mexico, Gas Natural is now looking to continue its success in a number of areas. The company is seeking to increase sales of LNG to the US and Canada, as well as Mexico and Puerto Rico.

The company’s Puerto Rico LNG plant may be expanded and the construction of similar plants in Brazil and Mexico will also be considered, according to CEO Rafael Villaseca.

“We want to build on the successes of the previous strategic plan, stick to what we did well,” Villaseca said.

Gas Natural will increase its fleet of LNG tankers and seek to boost underground gas storage capacity to at least 1.3bn cubic metres. In Europe, the company aims to centre