Algerian President offers spare electricity capacity to Europe after Russian supplies shutdown
Algerian President offers spare electricity capacity to Europe after Russian supplies shutdown
Algerian President Abdelmadjid Tebboune said on Thursday that the North African country is planning to offer its spare electricity capacity to Europe after energy supplies from Russia were shut down amid the Ukraine war.
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Algeria formally supplied Europe with around 11 percent of its gas [source: Getty]
Algeria is offering to Europe its spare electricity capacity, and it is planning a 270 km undersea pipe towards Italy, Algerian President Abdelmadjid Tebboune told reporters in an interview on Thursday.
Algeria is also pushing to double its gas exports to reach 100 billion cubic metres per year versus 56 billion cubic metres per year in 2022, Tebboune added.
Russia, which used to be the top exporter of gas to the EU, has turned off the taps in retaliation for a series of crippling sanctions against it designed to deplete its income used for its war.
A steady stream of European officials have visited Algeria in recent months to seek supply deals to help reduce dependence on Russia.
Algeria holds an estimated 159 trillion of proven gas reserves, ranking around 10th in the world in terms of gas resources.
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