Business & Economy

Spain could be EU gas hub as bloc reduces Russian dependency: Sanchez

Warsaw, Jul 27 (EFE).- Spain could be a gas hub for Europe and support the bloc in reducing its dependency on Russian gas, prime minister Pedro Sanchez said on Wednesday.

“Spain has the opportunity to become a Liquified Natural Gas (LNG) hub to be able to export and be an alternative to Russian gas for many countries in the European Union,” the Spanish prime minister said during a joint press conference with his Polish counterpart, Mateusz Morawiecki, in Warsaw.

Sanchez’s comments came a day after Brussels approved a draft law to reduce the consumption of natural gas amid threats that Russia will make further supply cuts.

EU energy ministers agreed Tuesday to a voluntary 15% reduction of gas consumption between August 2022 and March 2023 compared to their average consumption over the past five years.

“Europe is united and Spain will increase its solidarity measures,” Sanchez said.

“We can reduce the energy dependence of other countries on Russian gas,” he adeed.

Spain holds 30% of the EU’s re-gasification plants and 20% of its imported LNG was destined to other member states in June, Sanchez said, adding that Spain was willing to increase its export capacity.

“Spain is a supportive and responsible country and we are going to do everything we can to ensure that Europe is not held hostage to Russian president Vladimir Putin’s energy needs,” Sanchez said.

Russian energy giant Gazprom on Wednesday cut gas flows to Germany via the Nord Stream 1 pipeline to 20% of capacity, raising fears of a complete stoppage ahead of the winter season.

The company said it had reduced its capacity due to technical problems while Berlin believes Russia is using energy as a weapon of war. EFE


Related Articles

Back to top button