AS the Iran war disrupts global energy flows and shipping routes, Spain is boosting LNG imports from Algeria while receiving rare safe passage assurances from Tehran in the Strait of Hormuz.
Algerian authorities are set to inform Spanish Foreign Minister Jose Manuel Albares they have agreed to boost natural gas supplies to Spain via the Medgaz pipeline which links the two countries today.
The supply of natural gas is set to increase by 12.5 per cent as Algeria intends to ‘reward’ Spain for its stance on the ongoing conflicts in Iran and Gaza.
Spain’s government made the request to Algeria several weeks ago after the conflict between the US, Israel and Iran began triggering oil and gas prices to surge.
Last year, Algeria was Spain’s top supplier of natural gas, providing 42.5 per cent of total imports, ahead of the US which supplied 24 per cent.
Meanwhile, Spain has been added to the list of countries permitted to send vessels through the Strait of Hormuz, a vital corridor that carries roughly 20% of the world’s oil and natural gas.
In a statement, Tehran said: “Iran allows the Kingdom of Spain to use the Strait of Hormuz with complete freedom without restrictions or barriers that impede the maritime navigation of Spanish ships and tankers.”
Until now, only vessels headed for Asian markets – such as those from China, India, Pakistan, and Bangladesh – have been allowed to transit the strait.
Spanish ships are the first European vessels that have been given permission to pass through the strait.
Iranian Foreign Minister Abbas Araghchi stated on March 23 that the strait is ‘open but closed to our enemies.’
The decision comes after Spanish Prime Minister Pedro Sanchez has been outspoken in his opposition to the Iran war.
On 25 March, Sanchez said in parliament: “We are a sovereign country that does not want to participate in illegal wars.”
He added that the Middle East war presented a ‘far worse’ scenario than the invasion of Iraq in 2003.
“This is not the same scenario as the illegal war in Iraq. We are facing something far worse. Much worse. With a potential impact that is far broader and far deeper,” he told parliament.
He added: “It’s an absurd and illegal war. A cruel one that sets us back from achieving our economic, social, and environmental goals.”
Sanchez has also refused to let the US use its Rota and Moron military bases in Spain as part of its offensive in Iran.
As the conflict continues to disrupt energy markets, Spain’s stance has secured both increased gas supplies from Algeria and rare safe passage for its ships through the Strait of Hormuz.
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