Officials have played down reports Valencia is set to be the only Spanish host of Formula One.
Currently, both the port city as well as Barcelona host annual Grands Prix, but Bernie Ecclestone said recently that each country should have only a single race.
On Tuesday, Cadena SER and Radio Valencia reported that Valencia will be the only Spanish race from 2012.
It is believed representatives of the Circuit de Catalunya attended last weekend's Valencia event and told Ecclestone they want to pay a lower annual race fee in future.
At the same time, the Spanish radio reports said Valencia is willing to pay EUR 20 million per year and wants an earlier date in the European race season.
"At the last World Motor Sport Council the 2012 calendar was ratified and Barcelona was assigned a date," Spanish motor racing president Carlos Gracia said.
I think the two races can coexist perfectly
"I think the two races can coexist perfectly."
Circuit de Catalunya director Salvador Servia, meanwhile, told Marca sports newspaper that the latest reports about Barcelona losing its place are "invented".
"Spain has just held two successful Grands Prix. Everything else I would hope are just rumours," he said on Onda Cero radio.
"I think someone has said 'I want this to happen' and so somebody else said 'This is going to happen'. For next year they have already set the dates," added Servia.