Algeria is facing huge financial losses due to the closure of the Maghreb-Europe gas pipeline

Algeria is facing huge financial losses due to the closure of the Maghreb-Europe gas pipeline
By Le360 (with MAP) 7:36 pm on 03/08/2022

At midnight on October 31, 2021, the Maghreb-Europe gas pipeline stopped transporting Algerian gas through the Moroccan region to Spain.

© Copyright: DR

Russia’s federal news agency FAN reported on Monday that the closure of Algeria’s Maghreb-Europe (GME) gas pipeline had caused significant financial losses.

The same source makes it clear that Algeria is facing technical problems associated with plans to expand the capacity of the Metcas gas pipeline, which increases demand and increases transportation costs during the crisis.The energy crisis is worsening in Spain and across Europe.

The Russian agency accuses Spain of disregarding its promise to supply enough gas to Algeria, which is currently forced to double the number of LNG tankers, despite its obligation to ensure equal exports. The Maghreb-Europe gas pipeline (GME) would have done without if it had been in operation.

Since the closure of GME, Spanish authorities have announced a series of disruptions in the supply chain with alternative solutions offered by Algiers.

Spain is now turning to other suppliers, especially the United States, whose economy should not be linked to an unreliable source of energy, especially in the context of the Russian-Ukrainian conflict over prices and related supply problems.

With Le360 (with MAP)

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