Algeria is consolidating its strategic position in the European energy market. In October 2024, it confirmed its leading role as the main supplier of natural gas for Spain, covering more than half of its total imports.
By reaching a rate of 53% of natural gas imports into Spain, Algeria overtakes its rivals. Furthermore, this is part of a broader dynamic of renewal of commercial links between the two countries, following several months of restrictions and tensions. Indeed, the Bank of Algeria recently lifted the freeze on bank direct debits for import-export operations between Spain and Algeria.
Algeria covered 53% of Spanish natural gas imports in October 2024
In October 2024, Algeria managed to cover 53 % of total imports natural gas in Spain. A notable performance which places the country well ahead of its direct competitors, namely, the Russia (16.1 %) and the UNITED STATES (8%).
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This means that Algeria contributes significantly to the energy security of Spain. In addition, this country depends on the supply of Algerian natural gas to supplement its domestic and industrial needs.
Indeed, exports from Algeria to Spain in October 2024 amount to 13,754 gigawatt hours (GWh). Don’t 10 296 GWh transited in direct natural gas via the Medgaz pipeline and 3 458 GWh sent in the form of Liquefied Natural Gas (LNG).
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In the annual cumulative figure, according to data extracted from the Enagas statistical bulletin, Algeria supplied 37.9% of natural gas imported by Spaine during the first 9 months of the year 2024. Compared to Russia which represents 21.3% and the United States whose import rate is around 17.8%, Algeria holds a large market shareconfirming its central place in the Spanish energy panorama.
Swiss
