France to Increase Natural Gas Imports from Algeria by 50%

Emmanuel Macron (left), President of France, and Abdelmadjid Tebboune, President of Algeria, shake hands after signing a new agreement document for the development of bilateral relations on the 27th (local time) in Algiers, the capital of Algeria.
Photo by EPA Yonhap News

[Asia Economy Reporter Park Byung-hee] Facing an energy crisis due to Russia's reduction in gas supply and operational disruptions at nuclear power plants caused by extreme heatwaves, France is expected to increase its natural gas supply from Algeria.

French energy company Engie is reported by Bloomberg on the 28th (local time) to be close to signing a contract with Algerian authorities to expand natural gas supply.

Olivier V?ran, spokesperson for the French government, said in an interview with BFM TV on the same day, "Diplomatic negotiations are underway," and "an official announcement can be made soon." V?ran did not specify how much the import volume would increase.

However, BFM, citing Europe 1 radio, reported that an agreement to increase imports by 50% is possible.

Algeria is the third largest gas supplier to Europe after Russia and Norway. The Algerian government recently signed a contract to increase gas supply to Italy as well.

French President Emmanuel Macron visited Algeria for three days starting on the 25th. Although the visit was aimed at addressing the colonial history on the 60th anniversary of Algerian independence, it is known that energy supply issues were also discussed during the visit.

Algeria was a French colony for 132 years and was liberated in 1962 after an eight-year war of independence against France.

Regarding Macron's visit to Algeria, there were sarcastic remarks in France suggesting he went to beg Algeria for gas. According to BFM reports, Macron's visit was likened to the "Humiliation of Canossa," referring to the event in 1077 when Holy Roman Emperor Henry IV went to Canossa in Italy to seek forgiveness from Pope Gregory VII.

President Macron stated that Algeria is not in a position to change France's energy crisis situation. He said, "Gas accounts for 20% of France's energy demand, which is not large, and Algeria's share in the gas market is about 8 to 9%," adding, "Algeria cannot change the situation."

This content was produced with the assistance of AI translation services.