Europe1: Algeria plans to increase gas supplies to France by 50%

Algeria plans to increase natural gas supplies to France by 50%, radio station says Europe1.

At this stage, this is an oral agreement between the authorities of the two countries. “In the coming hours, negotiations should be held between the French energy company Engie and Algeria to confirm the commitment to increase gas supplies, as well as to clarify these volumes,” Europe-1 notes. It is noted that a 50% increase in supplies under the current conditions would help Paris to partially cope with the cessation of gas imports from Russia.

Earlier, on August 25, French President Emmanuel Macron visited Algiers. Following the visit, he said that the strengthening of cooperation between the two countries in the field of energy is unlikely to change the situation in France.

In Europe, high gas prices are fixed, which is due to the threat of a crisis with the supply of this energy resource. Previously “Gazprom” announced that on August 31 it would stop the operation of the last Nord Stream gas compressor turbine for scheduled work, in the absence of technical malfunctions, pumping would be resumed on September 2 to the current 20% of the planned volume of 167 million cubic meters. m per day, that is, no more than 33 million cubic meters will flow through the pipeline. m of gas every day. Against the backdrop of this news, stock prices for gas began to rise. After a slight drop to $3,000 per thousand cubic meters, the price of the nearest, September, futures on the TTF hub today exceeded $3,500 per thousand cubic meters for the first time since March 8, when the record was set – the price of the April futures approached $3,900.