Spain Amplifies Gas Exports to Morocco Amid Strategic Energy Shifts
In a notable shift, Spain has dramatically increased its natural gas exports to Morocco while reducing supplies to European counterparts like Italy. This strategic move comes as Spain navigates complex energy dynamics involving Algeria and broader regional tensions.
According to data from Cores, Spain’s oil reserves agency, gas exports to Morocco have surged to 18.5% of Spain’s total by June 2024, a significant rise from 0.1% in June 2022. Over the past year, Spain has exported 9,338 gigawatt-hours of natural gas to Morocco via the Maghreb-Europe pipeline, marking a 155-fold increase.
This increase follows Algeria's decision to shut down a crucial pipeline to Morocco in October 2021 due to diplomatic tensions. In response, Morocco has relied on Spain's regasification infrastructure to import liquified natural gas (LNG) for domestic use.
Amidst these developments, Spain has reassured Algeria that no Algerian gas is being redirected to Morocco. Spanish officials emphasize a robust plan to maintain this commitment, underscoring the importance of their energy relationship with Algiers.
Simultaneously, Spain has decreased its gas exports to Italy. The pipeline connecting Barcelona and Livorno, previously accounting for 18.4% of Spanish gas exports in 2023, dropped to 4.4% by June 2024. Italy, previously affected by reduced Russian gas supplies, now boasts storage levels above 90% due to new agreements with Algeria.
Speculation suggests that diplomatic strains may also be influencing the reduced energy cooperation between Spain and Italy. Despite these shifts, Spain continues to source 29.6% of its gas from Algeria, with 19% still coming from Russia, according to Cores data.
This evolving energy landscape highlights Spain's balancing act in maintaining strategic alliances while meeting domestic and regional energy needs.
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