Petroleum Africa
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Thursday, June 6, 2013
The instability in North Africa, especially the security situations in Algeria and Libya, could lead to their traditional natural gas customers in Europe to seek other options. While the North African countries are geographically the best option for imports into Italy and Spain, the security of supply could become a challenge if insecurity continues.
Italy and Spain derive about one-third of their gas from Algeria, with Libya and Egypt supplying 10% combined. The uprisings that overtook the MENA region in late-2010/early-2011 reduced supplies from Libya and Egypt. While Algeria did not experience the Arab Spring in quite the degree that the other two countries did, the recent attack on a gas facility in the country proved that it was not immune from insecurity either.
“We need new supply sources,” said Leonardo Senni, head of the energy department at Italy’s Ministry of Economic Development in a Reuters report.
Although farther from the EU, the recent discoveries made in the eastern portion of the Mediterranean as well as East Africa could give Italy and Spain some options without having to turn to neighboring Russia.
“There is a trend in which our African gas imports are becoming more unreliable and our biggest concern is Algeria. So we are looking for new import sources,” said one Spanish gas importer in the Reuters report.
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