HomeNewsNewsRussian threats redraw the global energy map

Russian threats redraw the global energy map

Placeholder while article actions load

Algeria has long been a medium-stakes player in the global game of oil and gas exports, but the energy crisis in Europe has created an opening for the North African nation to up the ante. Italian Prime Minister Mario Draghi flew to Algiers just a few weeks ago to ink an agreement to boost natural gas imports from Algeria by 40 percent through an underused pipeline that runs beneath the Mediterranean Sea.

Other oil and gas exporters that were not previously front and center in the global energy conversation, such as Angola, Nigeria and the Republic of Congo, are also emerging as potential players for the future of Europe. And European nations hurrying to unshackle themselves from Russian gas are turning to more reliable, but costly, liquefied natural gas providers such as Qatar and the United States.

The moves are part of a scramble in Europe to respond to the energy crisis prompted by Russia’s…

Read more…