LNG lifeline for Izar

The Spanish government has recently announced that Izar and Gas Natural had struck a deal to build an LNG carrier at La Naval shipyard in Sestao. If the project goes ahead, the shipyard workers will have work for two or three years irrespective of whether or not the European Commission approves the plan to transform the Izar shipbuilding group.

However, Basque political parties and trade unions are treating the news with caution and hope it isn?t just a ploy. They went on to reiterate that it is essential for La Naval to be publicly-owned. Izar has not managed to secure any contracts to build ships at La Naval for the last four years, and the government?s announcement has caused a stir. The news has been welcomed by all involved, because orders on the shipyard?s books are vital for its survival. Yet most of the parties and unions are concerned since La Naval reportedly does not have an industrial plan.