medgaz

Algeria's state energy firm is ready to supply Europe with more gas in view of a possible decline due to the Russian invasion of Ukraine, its CEO said on Feb. 27.

Sonatrach CEO Toufik Hakkar said the firm was ready to pump additional gas to the EU from its surplus via the Transmed pipeline linking Algeria to Italy.

The Trans-Adriatic Pipeline (TAP) has completed its 3.9-billion-euro project financing, paving the way for construction to be completed for start-up in 2020, its managing director said on Friday.

Gazprom's bid to tap into a pipeline meant to wean Europe off Russian gas threatens to undermine a pillar of European energy policy and slow plans to develop rival deposits in the east Mediterranean.

As the European Union struggles against the "iron embrace" of Russian pipelines, it has made opening a new Southern GasCorridor to carry gas from Azerbaijan by 2020 a priority.