✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 12th, 2024 — In a dramatic turn of events, the planned acquisition of the Spanish energy giant Naturgy by the Emirati firm Taqa has been halted, largely due to Algeria’s firm stance on maintaining its critical gas supply agreements. This decision underscores the complex interplay of international energy politics and the pivotal role of Algeria as a key gas supplier to Spain.
Negotiations Collapse Amid Strategic Concerns
The major shareholder in Naturgy, Criteria Caixa, which holds a 26.7% stake, announced the termination of negotiations with Taqa without reaching any conclusive results. In their statement, Criteria Caixa emphasized their commitment to retaining their leading shareholder position, stating unequivocally that “its position as the primary shareholder is not for sale.” This decision effectively nullifies what would have been the largest share sale on the Spanish market, valued at over €25 billion, as reported by Spanish newspaper El Mundo.
Criteria Caixa explained that the decision to terminate the sale was driven by the need to safeguard the interests of the energy company, maintain its listing in Spain, ensure a coherent industrial plan aligned with the energy transition, and most crucially, secure Spain’s energy supply. These concerns were echoed by Algeria, which holds a 4% stake in Naturgy and a 51% stake in the Medgaz pipeline, making it Spain’s primary natural gas supplier.
Algeria’s Strategic Influence
Algeria’s influence on the negotiations became evident when Reuters reported in May that Algeria would cancel its gas deliveries to Naturgy if the Spanish company’s shares were sold to another entity. This warning was taken seriously by the Spanish stakeholders, highlighting the crucial role of Algerian gas in Spain’s energy security. Criteria Caixa’s latest statement underscores the necessity of ensuring Spain’s energy supply security, aligning with Algeria’s non-official stance that significantly influenced the negotiations.
Taqa’s Unsuccessful Bid
The Emirati firm Taqa, a significant investor in the Moroccan electricity sector, aimed to gain control of Naturgy to dominate the natural gas market in Western Europe. This would have given Taqa substantial leverage over a market traditionally supplied by Algeria, with nearly 10 billion cubic meters of natural gas per year. Moreover, Taqa sought to supply its Moroccan subsidiary, which produces about 40% of Morocco’s local energy needs.
However, this plan conflicted with the contractual clauses between Sonatrach, Algeria’s state-owned oil and gas company, and Naturgy, which prohibit the re-export of gas supplied to Spain to third-party destinations. Violating these terms could be deemed a breach of contract, potentially leading to the termination of the agreement between Sonatrach and its Spanish clients.
About Dzair Tube Media Group
Dzair Tube has firmly established itself as a prominent player among Algerian digital news sites, offering a diverse and enriching content experience. The platform, available in Arabic, French, and English editions, captures the attention of a wide-ranging audience, amassing over half a million daily clicks.
A testament to its commitment to excellence, Dzair Tube received the prestigious President of the Republic’s Award for Professional Journalist in the Electronic Press category on October 22, 2022. This recognition underscores the platform’s unwavering dedication to upholding the highest standards of journalism.
With a significant online presence, Dzair Tube boasts 350,000 subscribers on YouTube, over five million followers on various Facebook pages, and 450,000 subscribers on Instagram. Its digital channel has become a hub for diverse programming, covering news, sports, entertainment, culture, and religion, catering to a broad spectrum of audience preferences.
Equipped with state-of-the-art studios and advanced technology, Dzair Tube’s digital channel has garnered substantial viewership for its varied programs. Hosting interactive discussions with influential figures across different domains, the platform actively fosters public discourse and engagement. Beyond news coverage, Dzair Tube extends its commitment to the production of marketing documentaries, short TV commercials, and high-viewership programs.
The success of the print edition of Dzair Tube’s sports newspaper, “Dzair Sport,” further highlights the platform’s impact, with over 50,000 daily downloads from the official Dzair Tube website.
Honored with the Media Leadership Award from the Minister of Communication, Mohamed Laâgab, Dzair Tube continues to shape the landscape of Algerian digital news, maintaining a position of influence and impact in the media industry.
