Several European countries depend heavily on Russia for their gas imports.
Le Monde with AFP
Sonatrach, the Algerian public hydrocarbon giant, is ready to provide more gas in Europe, in the event of a decline in Russian exports related to the Ukrainian crisis, by transporting it in particular via the transmed pipeline connecting Algeria In Italy, said his boss, Sunday, February 27. Sonatrach is “a reliable gas supplier for the European market and is willing to support its long-term partners in case of difficult situations,” said CEO, Toufik Hakkar, on a daily basis. Europe is the “preferred natural market” for Algeria, which currently contributes 11% to its gas imports, “he said.
Extra natural gas or liquefied natural gas (LNG) intake depends nevertheless dependent on the “availability of excess volumes after satisfying the national market demand” and “contractual commitments” to foreign partners, has he adds. Sonatrach “has an unused capacity on the transmed pipeline”, which could be used to “increase the supply of the European market”, according to Mr. Hakkar. This gas pipeline can carry up to 32 billion cubic meters a year, four times more than the Medgaz pipeline that feeds Spain.
“Two or three billion cubic meters more”
“Algeria exports up to 22 billion cubic meters via the transmed pipeline”, which gives a capacity of 10 billion cubic meters to export, stated AFP Abdelmajid Attar, former Algerian Minister of the Energy and former CEO of Sonatrach. The gas could also be liquefied and sent through LNNs, knowing that “the liquefaction units that exist in Algeria are exploited only at 50/60% of their capabilities,” according to Mr. Attar. However, Algeria alone could not “compensate for the decline in Russian gas supply,” said the expert, believing that it could “provide the EU 2 or 3 billion cubic meters more” at Great maximum.
But at “medium term, in four or five years, Algeria will be able to send larger quantities,” says Attar, judging beforehand to “develop new reserves mainly consisting of unconventional gas” (gas shale). Algeria plans to invest $ 40 billion (approximately 35.5 billion euros) between 2022 and 2026 in oil exploration, production and refining, as well as gas exploration and extraction.
An extraordinary meeting of the Council of European Ministers responsible for energy must be held in Brussels on Monday, while several European countries depend heavily on Russia for their gas imports.