Economy

Arkab: Algeria is able to fulfill its commitments without Euro-Maghreb gas pipeline

The Minister of Energy and Mines, Mohamed Arkab, affirmed, Tuesday in Algiers, that Algeria is able to fulfill all its obligations with its Spanish and Portuguese counterparts in the field of natural gas supply, following the decision not to renew the contract for the exploitation of the Euro-Maghreb gas pipeline that passes through Morocco.

On the occasion of presenting details of the budget allocated to his ministry within the framework of the Finance Bill 2022, the Minister added before the Finance and Budget Committee of the People’s National Assembly, that the capacity of the Medgaz pipeline, which is the result of cooperation between Sonatrach and its Spanish partner, Naturgy, is expected to rise to 10.6 billion cubic meters by the month of December, which is equal to the current annual demand rate of Spain and Portugal.

In the same context, Mr. Arkab explained that although the capacity of the Euro-Maghreb gas pipeline is estimated at 13 billion cubic meters per year, the average annual quantities of gas destined for Spain through this pipeline ranged between 9 and 11 billion cubic meters.

On the other hand, the minister assured the members of the committee that the Spanish and Portuguese partners were “reassured”, especially by receiving studies prepared by Sonatrach, which attest to its ability to meet their needs in the field of gas and even the possibility of fulfilling additional requests.

And the minister continued, saying that during the last meeting that took place with the third assistant to the Spanish Prime Minister, the Minister of Ecological Transition and Demographic Challenge, he asked to obtain “more vision” on the Spanish demand over the next 3 or even 4 years in order to allow Sonatrach to manage its investments.

Mr. Arkab also referred to Algeria’s ability to “fulfill all the requests registered in the contracts signed with initials with its partners”, thanks to the capabilities of the gas refining units in “Arzew” and “Skikda”, which can reach – according to him – 10 billion cubic meters annually.

Finally, the Minister of Energy and Mines concluded by affirming that Algeria represents 30% of the European market’s supply of gas and contributes to the energy security of Europe, stressing the country’s ambition to further enhance its presence in this market by proposing additional quantities.

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