BIOMETHANE

ROADMAP

14 November 2022

Cepsa ǀ Título de Presentación ǀ Fecha

CONFIDENTIAL 1
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 Agenda

01 Why Biomethane?

02 Regulation

03 Bios Business Role

04 Market

05 Economics

06 Roadmap & Economics

07 Key Takeaways and Questions

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Cepsa ǀ Título de Presentación ǀ Fecha 2
 1. Why Biomethane?
Cepsa’s strategy is strongly committed to decarbonization in which biomethane will play a
fundamental role as it will help to comply with regulation too

Regulation1 obliges Cepsa to:

• Generate mobility certificates & reduce emissions (% of biofuels in
the fuels mix sales)
• Buy CO2 emission rights (EU ETS) to compensate emissions
Biomethane as a transversal solution
• Consume a minimum % of Green H 2 (no regulation yet) But for this to be feasible…
• Is regulation in place already?
• What would be Bios Business role?
Cepsa’s decarbonization strategy envisions ~4.4 TWh/y • How big is the potential market?
demand for biomethane by 2030:
• How to enter the market?
• CO2 reduction (ETS): ~2,262 GWh/y for internal demand based on
• Is biomethane economically viable?
Scope 1 emission reduction targets
• • How is Cepsa going to achieve its strategy?
Mobility (bio-CNG/bio-LNG): ~100 GWh/y contributing to Scope 3
emission reduction
• Green H2: ~2,000 GWh/y for SMR2 H2 production, based on Scope 1
emissions reduction targets

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Cepsa ǀ Título de Presentación ǀ Fecha
1. Renewable Energy Directive II (RED II), Fuel Quality Directive (FQD), Fit for 55 (FF55), European Union Emissions Trading System (EU ETS) | 2. SMR: Steam Methane Reforming
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 2. Regulation
Still no regulatory certainty (but rapidly advancing) that certifies the potential benefits of
biomethane associated for each final use

Biomethane is valuable if it is possible to certificate its renewable origin. Two certificates are currently used in Spain:

Potential uses
Certificate Information that provides
Mobility EU ETS H2 production
1 2 2
PoS Derives from RED II, it provides information
     
(Proof of Sustainability) about the GHG footprint of the gas

GdO Management System by Enagas confirms 3 4 4

GdO
(Garantías de Origen)
the renewable origin of the gas but no GHG
footprint (no information regarding
sustainability)2
   
 

1) MITERD in the process of accepting it and including biomethane in SICBIOS (building website already)
2) By analogy with bio-propane, Cepsa assumes that PoS could be used for EU ETS and H 2 production purposes
3) GdO does not provide information about the GHG footprint. Then, GdO will not be enough for mobility purposes
4) Cepsa is pending to perform a 1GWh test in RLR to validate with the auditor (AENOR) if GdO are enough for EU ETS/green H 2
production 4
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 3. Bios Business Role
Bios has a commercial consolidation and arbitration role between business units and
external customers in order to achieve Cepsa’s strategy providing the most optimal solution

… biomethane is just part of the full bios strategy of Cepsa and it is the only unit
that has all the information (what are biofuels needs for mobility, for decarbonization…)

Why is Bios in charge of … the economic competitiveness of biomethane depends on its final use (mobility,
optimizing all the CO2 emissions reduction, green H2 production, external client) and it is the only entity
biomethane value chain? with a clear overview

Because…
… it is the one looking for biomethane business opportunities and their
development (end to end production, biogas upgrading or offtake)

…it is aware of all the different regulations that apply and may come in the future

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 3. Bios Business Role
Bios has a commercial consolidation and arbitration role between business units and
external customers in order to achieve Cepsa’s strategy providing the most optimal solution
BIOS Scouting and Potentials JVs
• Scouting and potential JVs: biomethane is a very scattered market and
an active screening from Bios team is needed.
Producer
• Arbitration: Given biomethane scarcity and the economics of the different
Biomethane uses (reduce emissions, produce green H 2 or mobility) against their
Certificates/ETS alternatives (ETS cost, green H 2 premium or marginal emissions reduction
cost respectively), Bios:
CGC/CGE/
Information 1) Determines the optimal use for biomethane to maximize Cepsa’s profit
Trading
2) Proposes compensation mechanisms between business units (E.Parks /
Market intelligence
Chemicals / Mobility / CGC/CGE/Trading / Bios)

Energy Parks / Mobility & New

• Biomethane: from producer to consumer through CGC/CGE/Trading.
External consumer
Chemicals Commerce

Biometh. prem. Biometh. prem. Biometh. Prem. Biometh. cost

• Payments: final consumer pays through CGC/CGE/Trading to producer.
vs ETS cost vs Green H2 prem. vs Marginal certificate cost vs Biometh. sales CGC/Trading makes possible the operation.

CO2 Group BIOS

• Mobility Certificates: Bios uploads to SICBIOS (whenever available) on
behalf of Cepsa group (same procedure that for certificates coming from
MITERD/ETS SICBIOS liquid fuels)

BIOS Arbitration – Best option for Cepsa

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Cepsa ǀ Título de Presentación ǀ Fecha • ETS CO2: CO2 Group coordinates and include them in MITERD/ETS system
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 4. Market
Spanish potential feedstock for biomethane production is big enough to fulfill Cepsa’s
biomethane demand but market is very tight.
SEDIGAS potential estimates for Spain in 2050 (TWh/y)
137
4

34

• Actual Spanish gas consumption: 380 TWh/y

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• For mobility (CNG/LNG): 1.3 GWh/y 11

• Biomethane 2050 potential1 : 137 TWh/y 59 15

• Biomethane 2030 estimation2: 38 TWh/y

• Cepsa needs in 2030: 4.4 TWh/y

Sequential Animal Manure Agricultural Others Forestry Municipal Total

cropping residues Anaerobic residues solid waste biomethane
digestion potential

Total anaerobic digestion Total gasification

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Cepsa ǀ Título de Presentación ǀ Fecha
1. Data from SEDIGAS (Asociación Española del Gas) | 2. SEDIGAS production estimation for 2030 is more ambitious than MITERD one (38 TWh/y vs 10.4 TWh/y)
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 5. Economics – Opportunities (1/6)
There are three ways to enter the market implying different costs. Generally, equivalent
biomethane production costs could range from 40 to 60 €/MWh
Equivalent
Opportunity CAPEX1 OPEX
How Pros Cons De-risking biomethane cost3
type (M€) (€/MWh)
(€/MWh)

- Highest CAPEX needs • Ensure stable quality, quantity

Partnering with + Long term plant availability
- 2 years execution since
End to end feedstock collectors + Secured margins (long-term) and continuity
and building a + Lower OPEX (no premium
FID [12 - 16] [30 - 40] [40 - 50]
production - Long term liability • Ensure enough internal demand
biomethane plant payments to biogas producer) to cover Cepsa’s production
- Complex supply chain

- Higher OPEX (premium

Partnering with biogas + Long term plant availability payments to biogas • Ensure enough internal demand
Biogas
players upgrading a + Lower CAPEX needs producer) eroding margin to cover Cepsa’s production [3 - 4] [45 - 55]2 [50 - 60]
upgrading current biogas plant + Feedstock ensured - 1 year execution since FID
- Long term liability

- Highest biomethane price • Develop Trading hedging

Partnering with + Immediate TTF Price
Offtake biomethane players + No CAPEX
- Contracts volatility capabilities - -
- Lack of supply + Premium

1. CAPEX for 85,000 MWh/y plant

2. Includes margin for biogas player (biogas plant amortization)
3. Assuming asset lifetime 20 years and including the proportional CAPEX cost
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 5. Economics – Biomethane uses (2/6)
Biomethane’s economic competitiveness depends highly on its final use. Biomethane
premium needs to be compared with the alternative’s marginal cost for each use
Biomethane final use Alternative
Buy CO2 emission rights in the EU
Internal Fuel Consumption
ETS market
Option 1 (comply FQD): Reduce road
transport emissions by including
more biofuels
Mobility (bio-CNG/bio-LNG)
Option 2 (comply RED II): Generate
mobility certificates by including
biofuels in transport fuels
Premium of H2 production in
Green H2 production electrolyzer.
Cepsa ǀ Título de Presentación ǀ Fecha
Biomethane Premium (vs TTF) Current marginal’s Maximum premium
vs Alternative's marginal cost alternative cost willing to pay over TTF
~ 15 €/MWh
1 €/MWh ~ 5.5 €/t CO2 ~ 80 €/t CO2
80 €/t CO2 ÷ 5.5 MWh/t CO2
Option 1: ~300 €/t
Option 1: 1 €/MWh ~ 3.4 €/t CO2 CO2
~ 89 €/MWh
Option 2: not 300 €/t CO2 ÷ 3.4 MWh/t CO2
Option 2: 1 €/MWh ~ 6.6 €/certificate
considered as FQD is
more restrictive
~3 €/kg H2 to be competitive
75 €/MWh - TTF €/MWh
Biomethane total price needs in the range
of 65-75 €/MWh
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 5. Economics – Flow Overview (3/6)

No feedstock required
Spread
Biogas Margin

Raw feedstock

Biogas Biogas Biomethane

1 Biomethane feedstock obtainment
Production Upgrading Trade
Biomethane Feedstock

Generation Market
2 Biomethane obtainment as a final

Selling Market
Offtake (1) ETS product

3 Biomethane trading market

Upgrade (2) H2 operations

4 Cepsa opportunity cost capture

End to End (3) Mobility

1 2 3 4
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 5. Economics – Internal Fuel Consumption Use (4/6)
Biomethane premium competes against the CO2 emissions rights cost when used for internal
fuel consumption

60
• At current ETS CO2 cost: ~80 €/t CO2 (expected to increase in
Biomethane Premium vs TTF (€/MWh)

50
coming years)
40 • The maximum premium that Cepsa should pay for biomethane to
be economically competitive is ~15€/MWh
30
• Economics for Cepsa:
20
15
• With TTF price ~40 €/MWh, Cepsa would make money while
10 purchasing biomethane under 55 €/MWh

0
0 50 100 150 200 250 300
80
ETS CO2 rights equivalent cost (€/t CO2)

Conclusion: with TTF prices ~40 €/MWh (2027+ premise as per PP8), to develop biomethane projects (end to end and/or
upgrading biogas plants) might not be an optimal solution to offset carbon emissions as it would be more profitable to continue
buying ETS CO2 rights. Higher ETS CO2 cost would make this option more attractive.

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 5. Economics – Mobility Use (5/6)
Biomethane premium competes against the marginal CO2 emissions cost of biofuels to comply
with FQD when used for mobility (bio-CNG/bio-LNG)
Biomethane premium vs TTF (€/MWh)

140

120 • Current marginal CO2 emission cost of biofuels to comply with FQD:
100
~300 €/t CO2
89
80 • The maximum premium that Cepsa should pay for biomethane to
be economically competitive is ~89€/MWh
60
• Economics for Cepsa:
40
• With TTF price ~40 €/MWh, Cepsa would make money while
20
purchasing biomethane under 129 €/MWh
300
0
0 50 100 150 200 250 300 350 400 450 500
Marginal CO2 emissions cost to comply with FQD (€/tCO2)

Conclusion: even in low TTF price scenarios, biomethane is very profitable when used for mobility purposes as gas cost is fully
paid by the emissions reduction that would help to comply with FQD.
If somehow to comply with RED II directive becomes more restrictive (i.e.: UERs are accepted to comply with FQD), Cepsa
could use biomethane to generate certificates being that option very profitable too. If Cepsa has not been buying biomethane to
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Cepsa ǀ Título de Presentación
generate ǀ Fecha
certificates is because regulation still pending (MITERD has not included biomethane in SICBIOS yet).
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 5. Economics – Green Hydrogen Production Use (6/6)
Biomethane premium competes against green hydrogen premium when producing it by
electrolysis (total cost of ~ 3 €/kg H2)

80
Biomethane Premium vs TTF (€/MWh)

70 • For being competitive in green H2 production with biomethane

60 (compared to electrolysis), H2 business needs a maximum
50 biomethane price of 75 €/MWh.
40 • Then, the maximum biomethane premium over TTF that Cepsa
35
30
would be willing to pay is: 75 €/MWh – TTF (€/MWh)
20
• Economics for Cepsa:
10 • With TTF price ~40 €/MWh (PP8 premises 2026+), the
0
40 maximum premium that Cepsa would be willing to pay is
0 20 40 60 80 35€/MWh
TTF price (€/MWh)

Conclusion: as per Hydrogen business, biomethane to produce green H 2 in steam reformers would be profitable when bought
under 75 €/MWh. However, if TTF prices or market biomethane premiums raise, biomethane could become not competitive
against the electrolytic green H2 (it would depend on electricity costs).

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 6. Roadmap & Economics
Cepsa needs to create a balanced portfolio mix to achieve the targets set and become a
key player in biomethane market
Short term (end-2022 and 2023)
Cepsa's Biomethane needs • 1GWh test to understand regulation (GdO,
PoS acceptance)
4,500
• Close offtakes deals for 2023 and 2024
3,750
start-ups
GWh/y

3,000 • Start investing in biogas upgrading plants

2,250 and end-to-end production plants.
1,500

750 Medium term (2024-2026):

- • Continue closing offtake deals to cover
2022 2023 2024 2025 2026 2027 2028 2029 2030
Cepsa’s needs for coming years
Total Opportunitie s ide ntifie d (GW h) - 2,533 3,685 4,214 4,323 4,327 4,331 4,333 4,335 • Take decisions to build additional biogas
Ce ps a To tal Ne e ds (GWh) - 239 636 646 1,717 2,213 3,194 4,278 4,362 upgrading plants and end-to-end plants

Trading - s po t (GWh) - 24 64 65 172 221 319 428 545

• Start-up of first end to end Cepsa owned
Offtake (GWh) - 179 318 323 859 996 1,278 1,711 1,636 plants
Bio g as Upg rading (GWh) - 36 191 194 515 664 958 1,283 1,309
End-to -End (GWh) - - 64 65 172 332 639 856 872
Long term (2027-2030)
CAP EX ne e ds upgra ding (M€) 1.5 6.5 0.1 13.9 6.6 13.2 14.8 1.2
CAP EX ne e ds E2E (M€) 10.7 0.2 18.6 28.2 55.0 39.5 3.1 0.0 • Cepsa’s consolidation as a key
TOTAL CAPEX (M€) 12.1 6.7 18.7 42.2 61.5 52.7 17.9 1.2 player/partner in the biomethane market
with a diversed portfolio (offtake vs biogas 14
Cepsa ǀ Título de Presentación ǀ Fecha Cumulative CAPEX 2023-2030: 213 M€ upgrading vs E2E production) 14
 6. Roadmap & Economics - Results
Biomethane total economics (biomethane business + cost of opportunity captured depending
on its final use) varies highly depending on the premium considered above TTF price.

Premises: Results:
• TTF price (PP8 premise): 50 €/MWh 2026, 40 €/MWh 2027+ NPV@10% (M€) vs Biomethane Premium over TTF (€/MWh)
• Carbon cost (PP8 premise): 98 €/tCO2 2026, 130 €/tCO2 2030 400
300
• Marginal CO2 cost to comply with FQD (PP8 premise): >300 €/t CO 2 200
100
• Biomethane maximum price for H2 business: 75 €/MWh

NPV@10% (M€)
0
-100
-200
• Biomethane premium over TTF: range from 20-60 €/MWh -300
-400
-500
• End-to-End Opportunity: -600
20 25 30 35 40 45 50 55 60
• CAPEX1=14 M€ / OPEX=35€/MWh
• Biogas Upgrading Opportunity:
• CAPEX1=3.5 M€ / OPEX=52 €/MWh

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Título85de Presentación
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 6. Roadmap & Economics - Conclusions
Biomethane total economics (biomethane business + cost of opportunity captured depending
on its final use) varies highly depending on the premium considered above TTF price.

Conclusions: Results:
• Assuming previously mentioned premises (PP8 mainly): NPV@10% (M€) vs Biomethane Premium over TTF (€/MWh)
• Biomethane business would be profitable if 400
premium is above 24€/MWh 300
200
• Biomethane for Internal fuel consumption 100
uses would be profitable against its alternative

NPV@10% (M€)
0
only whenever premium is under 23€/MWh. -100
-200
• Biomethane for Mobility use would be always -300
profitable against its alternative unless premium -400
reach values above 90 €/MWh -500
-600
• Biomethane for Green H2 production would be 20 25 30 35 40 45 50 55 60
profitable against its alternative whenever
premium is less than 35 €/MWh
• Biomethane total economics (sum of the
previous effects) would be profitable if premium
is under 33€/MWh
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 6. Roadmap & Economics - Sensitivities
Biomethane total economics varies highly depending on: TTF price, biomethane premium and
carbon cost. Sensitivities have been performed to see the different impacts.

Biomethane Business (NPV@10% - M€)

Conclusions:     TTF Price (€/MWh)
  -140.2 20 40 60 80
• Assuming previously mentioned premises:

Premium over TTF (€/MWh)

20 -251 -67 118 302
40 -67 118 302 486
• Biomethane business would be profitable if 60 118 302 486 670
TTF+Premium is above 68 €/MWh
• If carbon cost raises to 300 €/t CO2, biomethane for Internal fuel Consumption (NPV@10% - M€)
Internal fuel consumption could become more     Carbon cost (€/t CO2)
profitable than its alternative (ETS market) if premiums   -192.0 100 150 200 300

Premium over TTF (€/MWh)

over TTF are below 54 €/MWh. 2080 -26
302 98
486 223
670 473
854
40 -302 -178 -53 197
• Biomethane for Green H2 production would be 60 -579 -454 -329 -79
profitable against its alternative whenever TTF +
Premium is less than 75 €/MWh Green H2 production (NPV@10% - M€)
    TTF Price (€/MWh)
  249.9 20 40 60 80

ium over TTF (€/MWh)

8020 -855380 163
-730 -54
-605 -272
-355
40 163 -54 -272 -489
60 -54 -272 -489 -706

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 7. Key Takeaways & Questions
Key Takeaways:
• Biomethane is a must to decarbonize and reach 2030 Cepsa’s goals.
• Biomethane business (projects development, not just offtake agreements) will offset partially the total impact of
decarbonization

Questions:
• Is the Bios role correctly defined?
• Could Bios start closing deals for 2023 onwards?
• No CAPEX has been finally included in PP8 for biomethane. However, to provide enough biomethane to cover
Cepsa’s demand (assuming 50% of biomethane consumed is produced in Cepsa facilities), ~200 M€ are needed in
2023-2030 period.
Question: Who will be the owner of the plants? (Cepsa? CCP? U.Bios?)
• Bios needs a biomethane withdrawal commitment signed by E.Parks, C&CE (Bios, H2, BioOils), Chemicals and
Mobility
• Offtake contracts duration is 10 years, most of contracts would be above 35 M€. Will they all need BoD approval? 18
Cepsa ǀ Título de Presentación ǀ Fecha 18
Backup

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 Back-up 1 – Total Opportunities Identified
GWh/y GWh/y
Opportunity Type Probability 2023 2024 2025 2026 2027 2028 2029 2030 Opportunity Type Probability 2023 2024 2025 2026 2027 2028 2029 2030
Montes de Toledo (manure) Offt ake 70% 4 45 45 45 45 45 45 45 Zurgena (Almería) Offt ake 20% 40 40 40 40 40 40 40 40
Aborgase (Abonos Orgánicos de Sevilla) Offt ake 70% 24 48 96 144 144 144 144 144 Antequera (Enagás) Offt ake 50% 65 65 65 65 65 65 65 65
La Galera Offt ake 30% 50 50 50 50 50 50 50 50 La Almunia de doña godina Offt ake 50% 0 60 60 60 60 60 60 60
FCC Biogas Upgrading 30% 40 80 120 146 146 146 146 146 Biovo (Granollers y consorcio besós tordera)
Offt ake 50% 11 21 21 21 21 21 21 21
PreZero Tenerife Landfill Biogas Upgrading 80% 0 0 60 90 90 90 90 90 Jabalquinto (Jaén) enagás, genia y valora Offt ake 50% 0 60 60 60 60 60 60 60
PreZero Alicante Landfill Offt ake 80% 0 50 50 50 50 50 50 50 Can Mata (Waga, Naturgy y Ferrovial) Offt ake 10% 70 70 70 70 70 70 70 70
PreZero Toledo Landfill Offt ake 80% 0 50 50 50 50 50 50 50 Cabezón de pisuerga (Somacly) Biogas Upgrading 50% 0 8 8 8 8 8 8 8
Urbaser Bilbao Offt ake 50% 0 12 17 22 26 30 32 34 Albacete green energy (Naturgy) Offt ake 20% 34 34 34 34 34 34 34 34
Beconsa Biogas Upgrading 75% 0 0 64 64 64 64 64 64 Vilademuls (Girona) Biogas Upgrading 30% 0 9 9 9 9 9 9 9
PreZero Gran Canaria Landfill Biogas Upgrading 80% 0 50 50 50 50 50 50 50 vall d'uxó (inderen) Biogas Upgrading 20% 0 23 23 23 23 23 23 23
JV w/ Bio-oils E2E 10% 0 0 170 170 170 170 170 170 Galivi Solar (Lorca) Offt ake 70% 22 27 27 27 27 27 27 27
Enagas Los Santos de Maimona (Badajoz) Offt ake 50% 51 51 51 51 51 51 51 51 Llutxent (BioGNL) Offt ake 70% 10 30 30 30 30 30 30 30
Enagas Villanueva de la serena (Badajoz) Offt ake 50% 41 41 41 41 41 41 41 41 Villacastín (Segovia) Offt ake 50% 0 0 48 48 48 48 48 48
Cabanillas (Navarra) Offt ake 10% 20 20 20 20 20 20 20 20 Olmedo (Valladolid) Offt ake 50% 0 0 64 64 64 64 64 64
Biogastur Biogas Upgrading 0% 0 70 70 70 70 70 70 70 Almansa Biogas Upgrading 10% 40 60 60 60 60 60 60 60
Biolvegas (Soria) Offt ake 30% 25 38 38 38 38 38 38 38 Garraf landfill (TERSA) Barcelona Biogas Upgrading 30% 40 40 40 40 40 40 40 40
Lliria FORSU Offt ake 50% 60 60 60 60 60 60 60 60 Riazor (agroamb lugo) Biogas Upgrading 30% 80 80 80 80 80 80 80 80
Vencillon (Huesca) Enagás Offt ake 50% 92 92 92 92 92 92 92 92 AXPO Trading 50% 150 150 150 150 150 150 150 150
Picassent Biogas Upgrading 30% 54 54 54 54 54 54 54 54 OTC FLOW Trading 100% 150 150 150 150 150 150 150 150
Albufera de Valencia (Naturgy, Enagás) Offt ake 10% 50 87 87 87 87 87 87 87 PAVILION Trading 100% 50 250 250 250 250 250 250 250
Meirama (Lugo) (Repsol, Reganosa Naturgy)Offt ake 0% 0 300 300 300 300 300 300 300 STX Trading 100% 150 150 150 150 150 150 150 150
La Calahorra (Granada) Offt ake 10% 10 20 20 20 20 20 20 20 OLYX Trading 100% 150 150 150 150 150 150 150 150
Edar Arazuri (Pamplona) Offt ake 20% 0 40 70 70 70 70 70 70 ENGIE (trading) Trading 50% 300 300 300 300 300 300 300 300
Serós (LLeida) Offt ake 10% 300 300 300 300 300 300 300 300 Landwäerme (trading) Trading 100% 150 150 150 150 150 150 150 150
Godall1 Offt ake 20% 50 50 50 50 50 50 50 50 WAGA Offt ake 50% 80 80 80 80 80 80 80 80
Godall 2 Offt ake 20% 50 50 50 50 50 50 50 50 TOTAL 2,533 3,685 4,214 4,323 4,327 4,331 4,333 4,335
Campillos (Málaga) Offt ake 20% 20 20 20 20 20 20 20 20

2023 2024 2025 2026 2027 2028 2029 2030

E2E 0 0 170 170 170 170 170 170
Biogas Upgrading 254 474 638 694 694 694 694 694
Offtake 1,179 1,911 2,106 2,159 2,163 2,167 2,169 2,171
Trading 1,100 1,300 1,300 1,300 1,300 1,300 1,300 1,300
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Cepsa ǀ Título de Presentación ǀ Fecha TOTAL 2,533 3,685 4,214 4,323 4,327 4,331 4,333 4,335
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 Back-up 2 – Total Cepsa’s Biomethane Demand

2023 2024 2025 2026 2027 2028 2029 2030

E.Parks (NG to Biomethane) - GWh 0 0 0 182 182 182 182 239
Chemicals (NG to Biomethane) - GWh 0 392 392 392 392 392 963 963
C&CE total - GWh 219 219 219 599 585 1,050 1,049 1,060
GN to biomethane BioOils assets - GWh 219 219 219 219 219 219 219 219
GN to biomethane in HVO1 & HVO2 - GWh 0 0 0 380 365 831 830 841
TOTAL decarbonization 219 611 611 1,172 1,158 1,624 2,193 2,262
Mobility - GWh 20 25 35 45 55 70 85 100
Green H2 production - GWh 0 0 0 500 1000 1500 2000 2000
TOTAL CEPSA NEEDS 239 636 646 1,717 2,213 3,194 4,278 4,362

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 Back-up 3 – Support schemes in place per country

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 Back-up 4 – Competitive Landscape

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