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Conference "The geopolitics of gas"
Energy experts Carole Nakhle, the executive director of Crystol Energy, and Gonzalo Escribano, a researcher at the Real Instituto Elcano, analyze the geopolitical shocks in gas and other hydrocarbons as a result of the crisis caused by the war in Ukraine.
You can watch the event on our YouTube channel: youtu.be/L5BKtTmB6zE
The war in Ukraine that began in the spring of 2022 has had several consequences for the population all over the world; in addition to wheat and sunflower oil shortages, there is also the pressing problem with the natural gas supply. According to Eurostat data, gas consumption in Europe is distributed mainly between 46% Russian gas, 20% Norwegian, 11% Algerian and 5% Qatari. Although not all EU members are equally vulnerable to Moscow, the European bloc’s energy stability is being threatened due to European sanctions against Russia and the retaliation by Vladimir Putin’s regime. Seeking out alternatives to deal with this energy shortage has become a race for all, because putting an end to dependence on Russia is a complex, expensive process.
A few alternatives being considered directly involve countries in North Africa and the Gulf. One option is to increase the supply of Liquefied Natural Gas (LNG) with Qatar as the main supplier to Europe, followed by the United States, Nigeria and Algeria. Another possibility would be to diversify supplies by combining gas production from Saudi Arabia, Norway, Australia and Azerbaijan. Closer to Spain is the alternative of Algeria, the third largest supplier of gas to the European Union, of major importance for the countries in southern Europe. However, due to the political instability in that country, as well as its neighbor Libya, where conflict has endured since 2011, there are risks to supply causing volatility and stress in the markets.
During this meeting at Casa Árabe, Carole Nakhle talks with Gonzalo Escribano, Director of the Energy and Climate Change Program at the Real Instituto Elcano. The event is moderated by Karim Hauser, Casa Árabe’s International Relations Coordinator.
Photo: Kees Torn on Flickr
Further information: en.casaarabe.es/event/the-geopolitics-of-gas
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By Casa ÁrabeEnergy experts Carole Nakhle, the executive director of Crystol Energy, and Gonzalo Escribano, a researcher at the Real Instituto Elcano, analyze the geopolitical shocks in gas and other hydrocarbons as a result of the crisis caused by the war in Ukraine.
You can watch the event on our YouTube channel: youtu.be/L5BKtTmB6zE
The war in Ukraine that began in the spring of 2022 has had several consequences for the population all over the world; in addition to wheat and sunflower oil shortages, there is also the pressing problem with the natural gas supply. According to Eurostat data, gas consumption in Europe is distributed mainly between 46% Russian gas, 20% Norwegian, 11% Algerian and 5% Qatari. Although not all EU members are equally vulnerable to Moscow, the European bloc’s energy stability is being threatened due to European sanctions against Russia and the retaliation by Vladimir Putin’s regime. Seeking out alternatives to deal with this energy shortage has become a race for all, because putting an end to dependence on Russia is a complex, expensive process.
A few alternatives being considered directly involve countries in North Africa and the Gulf. One option is to increase the supply of Liquefied Natural Gas (LNG) with Qatar as the main supplier to Europe, followed by the United States, Nigeria and Algeria. Another possibility would be to diversify supplies by combining gas production from Saudi Arabia, Norway, Australia and Azerbaijan. Closer to Spain is the alternative of Algeria, the third largest supplier of gas to the European Union, of major importance for the countries in southern Europe. However, due to the political instability in that country, as well as its neighbor Libya, where conflict has endured since 2011, there are risks to supply causing volatility and stress in the markets.
During this meeting at Casa Árabe, Carole Nakhle talks with Gonzalo Escribano, Director of the Energy and Climate Change Program at the Real Instituto Elcano. The event is moderated by Karim Hauser, Casa Árabe’s International Relations Coordinator.
Photo: Kees Torn on Flickr
Further information: en.casaarabe.es/event/the-geopolitics-of-gas