The end of an era? Yes, Algeria has a newer gas pipeline to Spain in place that does not pass through Morocco, and the two North Africa countries are not exactly on good terms but there have been troubles in the past as well and export revenue is export revenue. I think this is one of the signs of something more fundamental happening in Algeria. They are running out of gas. Not enough upstream work done for years due to very unattractive terms of engagement and more gas is needed domestically. We might see the beginning of the end of Algerian gas exports.
Spain’s natural gas imports via a key pipeline from Algeria stopped after a 25-year transit deal expired without renewal.