There have been two basins in Spain that have been identified as having potential for shale gas and oil. The Basque-Cantabrian Basin, located in northern Spain, contains a series of organic-rich Jurassic-age shale with potential for wet gas and condensate, although the Ebro Basin to the southeast was not quantitatively assessed by the EIA for its May 2013 study.
Risked, technically-recoverable shale gas resources within the Basque-Cantabrian Basin are estimated at 8 Tcf, while there is also an estimated 100 million barrels of risked, technical-recoverable shale oil resource there.
However, even in Spain – a far more sparsely-populated country than its northern neighbors – there is political opposition to fracking. In early July, Repsol was forced to delay its first shale gas project in the country (its Luena project in the Cantabria region) after the local Cantabrian government outlawed fracking in the area.