Geopolitical tensions and energy shortages are reshaping who supplies oil and gas to North America and Europe. By seeking alternatives and diversifying suppliers, the Spanish government and the European Union are reducing exposure to supply risks caused by Russia’s invasion of Ukraine, prompting purchases from countries deemed more reliable.
The main shift is a steady rise in imports from the United States, which has become a dominant supplier for Spain in recent months. Since January, the United States has overtaken Algeria as Spain’s top gas supplier and has emerged as the leading oil supplier in April, underscoring a major realignment in energy flows.
Under a broader strategy announced by the Biden administration, there is an emphasis on supplying crude oil and liquefied natural gas to Europe to ease dependence on Russian hydrocarbons, a move that has intensified transatlantic energy exchanges and benefited Europe during the current energy squeeze.
The rise of the United States as a crude supplier to Spain has continued. In April alone, Spanish buyers imported 808,000 tonnes of U.S. oil, roughly four times the amount from a year earlier, accounting for about 15% of Spain’s total imports and surpassing other exporting nations according to official reserve data.
In the first four months of the year, the United States held second place in Spain’s oil imports by share, reaching about 11.4% of total purchases after a notable year-over-year increase. Traditional oil exporters such as Nigeria, Libya, Mexico, Saudi Arabia and Iraq remained important suppliers, but the United States moved up in the ranking as Spain diversified its energy sources.
Spain has also maintained and expanded gas supplies despite uncertainties over continued shipments from Russia and disruptions to pipelines from North Africa, including Algeria due to political tensions in the Sahara region. Purchases from the United States and from African nations like Nigeria and Egypt have filled gaps and reinforced energy resilience.
Analysts note that Spain has markedly increased its gas imports from the United States this year, and in April it solidified its position as a major gas supplier after surpassing Algeria earlier in the year. Data from the national gas system operator shows the United States accounted for a substantial share of Spain’s gas imports in the year’s first months.
Spain’s gas imports from other African suppliers also rose in April, with Nigeria gaining a larger share and becoming the third largest supplier, while Egypt saw strong growth too, contributing to a broader diversification of gas sources.
Purchases from Russia during the war
Spain continues to purchase oil and gas from Russia, despite the ongoing conflict in Ukraine. April’s Russian oil and gas imports remained steady relative to prior months, though they were lower than in the same month last year.
Spain’s exposure to Russian hydrocarbons remains limited. In April, Russian oil represented about 3.7% of total imports, and Russian gas around 8%. Long-term energy contracts with Russia were noted as difficult to cancel without penalties, but current operations were deemed legal as of the period observed.
European Union sanctions on Russia have so far not halted Russian gas imports, and Russia’s plan to restrict oil shipments by sea is being implemented gradually, with no full end date in sight for the year. Nevertheless, energy sector observers noted that new contracts with Russia were not being extended given future supply uncertainty and market volatility.