Algeria Meeting European Gas Supply Commitments, Says Minister
CAIRO (Reuters) — Algeria's energy minister said on Tuesday the North African country was fulfilling its contractual obligations for supplying natural gas to Europe, the state news agency reported.
Mohamed Arkab said Algeria now supplied Spain with 8 billion cubic meters (bcm) of gas and would raise the volume to 10.6 bcm in December with the expansion of the Medgaz pipeline.
European gas prices have rocketed this year as tight supplies have collided with strong demand in economies recovering from the COVID-19 pandemic.
The rebound in economic activity after the easing of coronavirus lockdowns has laid bare a shortage of natural gas stocks and other fuel supplies, causing blackouts in some countries.
Arkab said a planned pipeline to supply Europe with Nigerian gas via Algeria, had reached a "very advanced" stage.
The new pipeline will transport Nigerian gas through Niger and Algeria to Europe, he said.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
Comments