Ribera admits Algeria will raise gas price for Spain, but sees supplies “reassuring”

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Third Vice President and Minister of Ecological Transition, Teresa Ribera.
Third Vice President and Minister of Ecological Transition, Teresa Ribera.Europe Press

The Third Vice President of the Government and Minister for Ecological Transition and Demographic Challenge, Teresa Ribera, has indicated that Algeria, through its state company Sonatrach, intends to raise gas prices in Spain, and believes the increase is “moderate”. ” is. , “Sonatrach intends to raise prices, but this has been going on since October, because it understands that prices are far below the price gas quoted in international markets,” Ribera said in a statement to television Espaola. ” Ecological transition chiefs view supply as “guaranteed” and expect that, in any case, the rise in prices will be “moderate”.

Ribera has pointed out that negotiations between the Spanish companies and Sonatrach “usually take a long time”, although he is confident that the commercial terms in which the gas price is set can be closed “as quickly as possible”. Is. Asked whether a change in government’s position regarding Western Sahara could hurt gas supplies from Algeria, the Third Vice President assured that it was “essential” for Spain to have “excellent relations” with both Morocco and Algeria. and he lamented that there is not always a “fluid relationship” between these two countries.

“The relationship with Algeria, which is a reliable country that fulfills its commitments, we feel at this end of the gas supply is assured by the needs and on the terms that Spain has been buying for a long time,” What was said. Ribeira, who said Spain’s confidence in meeting its commitments in Algeria is “total”.

The third vice president explained that in October last year a review of gas prices began between the Algerian supply company Sonatrak and Spanish energy companies, an operation between the companies which he has defined as “strictly commercial” but “under governments”. not in the middle”. “Some of our gas companies unilaterally condemned gas contracts with some industrial companies, something we as a government did not like, but we could not intervene. From there, a new gas price proposition started”, he said.

Taufik Hakkar, the president of the Algerian public group Sonatrach, said last Friday that his country was considering a price hike for the gas sold to Spain, which he has fixed for the rest of European buyers of the fuel. In addition, Sonatrach Transalpine is in talks with Italian energy company Eni to increase gas pumping in the country.

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On Monday, Francisco Rennes, president of Spanish company Naturagi – a partner of Sonatrack in Spain – prepared a price review into market dynamics. “To think that, after a review, the Algerian gas price is going to go down, is to be out of the world,” he said at an event. the Spanish, The price of gas in Europe has increased fivefold in the past year.

Power companies criticized for trying to “derail” power reduction plans

In interviews on TVE, Ribeira said something to try to “derail” Spain and Portugal’s joint proposal to limit the price of gas to 30 euros per megawatt hour (MWh) in order to halve the price of electricity. Spanish power companies have also been criticized. in the Iberian market. Despite counting on early approval of the plan, the Energy Transition Minister has confirmed that there are those who prefer Spain and Portugal’s approach “not be implemented” and are trying to “derail” the proposal. Used to be.

“We have not realized that this price is an important aspect [con la Comisión Europea], Obviously, for companies, the higher the price of gas, the greater the profit assured. It is normal that they want the price to be as high as possible, but this will destroy political compromise and the desire to act in the interest of domestic and industrial consumers”, he remarked. “It’s time for all of us to take advantage and cut back for a while.”

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