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Date Published: 27/01/2022

ARCHIVED - Could the conflict between Russia and Ukraine lead to a gas shortage in Spain?

ARCHIVED ARTICLE

A Russian invasion could result in a price increase for Spain

<span style='color:#780948'>ARCHIVED</span> - Could the conflict between Russia and Ukraine lead to a gas shortage in Spain?

As diplomatic relations between Russia and Ukraine remain on tenterhooks, many are concerned that if the Kremlin decides to invade, Spain’s gas supply will be interrupted, right at a time when temperatures are plummeting across the country. However, earlier this week the Minister for Ecological Transition reassured that this country will not suffer natural gas supply problems due to the conflict, although the price could increase.

Currently, only 9.8% of natural gas imports to Spain come from Russia; Algeria, which accounts for 31.9%, is Spain’s main supplier. As there is no gas pipeline connecting both countries, in addition to the relatively low percentage of natural gas that Spain receives from Russia, the outbreak of a possible international conflict would not have such a direct effect on Spain as it would on other European countries such as Germany, which is much more dependent on Russian supply due to its geographical location.

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Gas is already extremely expensive thanks to the energy crisis which is dominating Europe, and the Minister acknowledged that while a military intervention by Russia in Ukraine won’t impact supply, an invasion would almost certainly lead to a further price hike.

“It is a very sensitive issue. Spain has a solid position in terms of supply guarantees and, in addition, the regasification infrastructure that we have allows rapid access to liquefied natural gas by ship and therefore there is no supply problem with very different sources,” the Minister added.

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