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Algeria To Halt Gas To Spain If Diverted To Third Party

ENERGY SECURITY

Reuters citing Algerian state news has reported that 'Algeria's energy ministry says any destination change for the Algerian gas to Spain could mean termination of contract.'

  • The threat comes as European states look to find solutions to the Russian gas blockade of Bulgaria and Poland.
  • Algeria is considered a close ally of Moscow and has consistently voted with Russia on UN votes.
  • Algeria is the world's 10th largest exporter of gas and wires reported last week that despite tensions with Europe over Russia, and with Spain over disputed Western Sahara, Algeria remained committed to honouring gas contracts.
  • A former Sonatrach executive told Reuters last week: 'Algeria is a reliable country in terms of natural gas supply and intends to remain so.'
  • From the same Reuters report last week: 'A source familiar with the company's current thinking reiterated that Sonatrach was committed to fulfilling its deliveries as stipulated in contracts.'
  • If Algeria cuts off gas to Spain it would further intensify the European gas crisis.
Political RiskCommoditiesPolitical Risk BulletEnergy BulletsPolitical Market News
Political RiskCommoditiesPolitical Risk BulletEnergy BulletsPolitical Market News

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