As energy crisis looms, Spain protects Algerian gas supply | National policy
The countries pledged to deepen their cooperation on renewable energy, agriculture and shipbuilding, Albares said.
This visit comes as the Spanish government, and in particular Albares, are trying to reconnect with Morocco, Algeria’s regional rival.
Relations between Spain and Morocco hit a low in May over the two countries’ views on the future of Western Sahara, a former Spanish colony which was annexed by Morocco and which the United Nations says should be subject to decolonization.
The Spanish government is already working to cushion the impact on households of rising wholesale electricity prices due to growing global competition for natural gas and bottlenecks in supply chains of the main world producers.
Higher utility bills have pushed up inflation in Spain, as in much of Europe. Consumer prices rose 4% in September from a year earlier, Spain’s statistics institute said this week, an unprecedented increase in 13 years.
Experts predict the worst is yet to come as the northern hemisphere enters the colder, more energy-consuming winter months.
Spain is trying to replenish its gas storage facilities, which were at 72% capacity in mid-September, before the heat kicked on and increased electricity consumption.
Albares was joined by senior executives from Naturgy and Enagás, two of Spain’s largest energy companies.