Forbes: Can Spain Ease Europe's Energy Woes?

Earlier this month, Spain’s Minister of Industry, Energy and Tourism, Jose Manuel Soria told The Financial Times that the solution to Europe’s energy challenges could emerge from the Mediterranean coastline. Flush with gas supply from an Algerian pipeline and seven LNG regasification plants, Spain boasted the potential to send 35 to 40 billion cubic meters of much-needed product to the rest of Europe each year.

“The problem of gas and the Ukraine crisis affects more directly the countries that are reliant on Russian gas, not Spain. But Spain could be the solution,” he told FT.

As winter nears, Soria’s focus on the potential of further restrictions on Russian gas to the rest of Europe is understandable. Since confronting the effects of a halt in Russian gas through Ukraine in 2009, amid a pricing dispute, Europe has made a concerted effort to diversify its natural gas supply options. Efforts have included increasing cooperation with North African producers, increasing renewable alternatives, modest domestic exploration and infrastructure investment to close transport deficits between member states.
MORE