at the gates of winter, European Union (EU) wants to strengthen Algerian gas curb addiction Russia. European Energy Commissioner Kadri Simson and his Algerian counterpart, Mohamed Arkab, agreed on Monday to deepen the energy relationship between the two regions, opening the door to increasing available gas for export to Europe. “I am in Algeria to take the energy cooperation between the EU and Algeria to a higher level,” the president said during the High Level Energy Meeting between the EU and Algeria, held in the capital of the Maghreb country.
“Both countries want to capitalize on the increase in Algerian gas that could potentially be exported to Europe,” Simson said. said. He explained that this “increase” could be achieved through European companies operating in the country. In addition, he argued that “a cooperation won by both regions, Algeria has always been a reliable supplier of gas and Europe is its main market”.
At the meeting, the EU also pledged to “mobilize substantial financing” to invest in renewable energies. Simson argued that Algeria “has the potential to become a global leader as a renewable energy producer”.
During his visit to Algeria, Simson also met with different European companies, including Spaniards operating locally in Algeria. naturalness. The European Energy Commissioner will close his visit on Tuesday after giving the opening speech of the Algeria-EU Energy Business Forum.
increased production
On the same Monday, Sonatrach, the Algerian state company responsible for the exploitation of gas and oil in this Maghreb country, announced that it will increase its production. These are two deposits in the south of the country, where it operates in partnership with the Italian company ENI.
As reported, these deposits will reach two million cubic meters per day by the end of the year, more than double what is currently mined. In addition, he added that this increase will serve to “increase Algerian gas exports to the European market,” according to the company’s statement.
The energy crisis caused by the war in Ukraine has caused Europe to seek new markets to stop gas purchases from Russia. French Prime Minister Elisabeth Borne was also in Algeria on Monday to attend the France-Algeria Business Forum to strengthen bilateral relations between the two countries.
Spain-Algeria crisis
Algeria has historically been Spain’s most important supplier of gas, although it was last year. United States of America has overcome. At the end of 2021, Algeria cut off its gas supply through one of the two gas pipelines connecting both countries. In particular, he closed the pipeline passing through Morocco without passing the strait due to his anger towards Rabat. Following this decision, Algeria committed to continue its gas supply to Spain through the operating natural gas pipeline and liquefied gas.
For a year, Madrid and Algeria have also been going through a delicate phase marked by the suspension of the friendship agreement between the two countries by Algeria last June. A gesture by North African officials showing their dismay at the change in Spain’s position in Western Sahara. Beyond the diplomatic crisis, gas continued to circulate. In addition, last week, Spanish Naturgy signed an agreement with Sonotrach to review the price of supply contracts, and they are negotiating to set the terms for next year.