Africa News Bulletin

Algeria is Prepared to Fulfil Europe’s Gas Demand

Algerian oil and gas giant, Sonatrach, announced that it is prepared to supply Europe with an increased supply of oil and gas should Russia’s exports not meet Europe’s demand. Additional gas will be exported through the TransMed pipeline, which connects Algeria and Italy.

The TransMed pipeline has the capacity to pump 32 billion cubic meters (bcm) of gas annually. According to Abdelmadjid Attar, former Algerian Energy Minister, “Algeria exports about 22 billion cubic meters through the TransMed pipeline,” with opportunities to export an additional ten bcm of gas present. Accordingly, an opportunity has emerged for TransMed’s unexploited potential to be used to increase gas supply to Europe.

Sonatrach CEO, Toufik Hakkar, commented that Sonatrach’s additional gas supply aligns with meeting the demand of Europe’s market and would be subject to the situation in Russia and Ukraine. Hakkar noted that gas can still be transported to areas not linked by gas pipelines in Europe, and this can be done by shipping Liquefied Natural Gas.

Strategically located within close proximity to European countries such as Italy, and Spain, Algeria’s primary interests regarding gas exports are European markets. With the sanctions imposed on Russia threatening Russia-Europe supply chains, Algeria is looking to step up at the preferred supplier.

Original story on Energy Capital Power

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