- Algeria reclaimed its title as Spain’s largest natural gas supplier in January, providing 25% of its monthly demand.
- Enagas reported that the number of ships loading LNG in Spain and heading to Europe doubled last year compared to 2021.
According to Enagas, Algeria reclaimed its title as Spain’s largest natural gas supplier in January, providing 25% of its monthly demand. Also, according to Reuters, Algeria has long been Spain’s largest natural gas supplier since Enagas began collecting records. But last January, the United States knocked Algeria off the top as Algeria-Spain relations soured following the latter’s public recognition of Morocco’s autonomy plan for the disputed area of Western Sahara. The former Maghred-Europe pipeline was shut down in the last quarter of 2021 following Spain’s recognition.
Last October, Algeria’s Sonatrach and Spain’s Naturgy revised 2022 nat gas prices but put off talks of 2023 gas prices. According to Reuters figures from last October, Sonatrach supplies about 5 billion cubic meters of gas per year to Spain per contracts signed decades ago. The contracts are valid until the end of this decade, with periodic price reviews. Algeria agreed to fulfil its contractual obligations for supplying gas to Spain even though it pulled its ambassador to Madrid in June as tensions escalated.
Last week, Enagas reported that the number of ships loading LNG in Spain and heading to Europe doubled last year compared to 2021. Enagas data suggests that 8545 GWh of total gas deliveries to Spain last month came from Algeria through the Medgaz pipeline. For January, the United States supplied 20.7% of Spain’s natural gas, and Nigeria was third, supplying 20.2%–with 100% of it being LNG. Meanwhile, Spain’s Russia deliveries tripled yearly in January to 6372 GWh, up from 2,178 GWh—the highest volume since June.
Source:OilPrice.com