Algeria tighten the rope even more Spain and launched new reprisals for what he saw as an “unfair” turn in the Spanish historical position in Western Sahara, by supporting the plan for autonomy advocated by Morocco. Algeria first thought the Treaty of Friendship, Good Neighborhood and Cooperation with Spain had been broken, and hours later, almost at midnight, it froze its banking activities for commercial operations to and from Spain.
The Spanish Government is still examining the Algerian Government and the practical consequences of its action. special influence on trade between the two countries, especially with regard to natural gas supply. The executive insists on its desire for “better relations” with Algeria, but underlines its determination in defense of Spanish interests.
“We will give a calm and constructive answer, but also determined to defend the interests of Spain and Spanish companies.”He warned Foreign Minister José Manuel Albares, noting that energy companies with direct commercial relations with Algeria conveyed to the government that “there is no difficulty” in maintaining the flow of gas reaching Spain.
Algeria has traditionally been the main gas exporting country for Spain. Fifty years have passed since the opening of supply between the two countries, and it was until last year. Since January, USA overthrows Algeria as the largest gas supplier After Algeria’s decision to close one of the gas pipelines with Spain and through Morocco. In recent years gas from Algeria has accounted for more than 40% of Spain’s total imports, in recent months this rate has dropped to 25%.
“Right now there are no problems with gas flow, what the gas companies are telling us is that there are no difficulties with this measure so that remains the case,” Albares said. “I want to remember the words of the President of Algeria on April 24, which guaranteed gas supplies to Spain”.
While the executive waits to learn about the economic consequences of the measures adopted by Algeria, it insists that supply contracts, energy or other products “do not pose any risk”, as Finance Minister María Jesús Montero stressed. But it is also expected that if Algeria’s contracts are not respected, the affected companies could start a legal battle to defend their interests.
Relationships between the company gas Algerian Sonatrach and Spanish companies gas buyers are commercial with contractual obligations. “I am confident that they will continue to work,” Teresa Ribera, vice president and minister for Ecological Transformation, said in an interview with Onda Cero. “If not, it would be a more complex issue to be resolved not through diplomatic relations, but possibly through arbitration or the courts,” he convicted.
In the midst of an energy crisis, in which Russia’s military occupation of Ukraine has aggravated the impact on the sector, Algeria has offered to maintain prices for all gas-buying countries. All but Spain, where the Algerian Government is considering “recalculating” the cost of procurement. It’s exactly a warning from Algerian giant Sonatrach, and Spanish Naturgy has been negotiating for months to review the prices of gas supply contracts for the next three years.
from the Spanish gas industry It is insisted that it is “an ordinary investigation”. It is one of many contracts made approximately every three years, but negotiations have been reduced and accentuated by the return of the Spanish Government. With international gas markets spiraling out of control and setting record prices, the price hike in the renegotiation is almost certain.