Timeline
The European Investment Bank grants MEDGAZ a loan of 500 million euros.
The testing phase with gas commences.
MEDGAZ is granted the Algerian Concession.
MEDGAZ is granted the Administrative Authorization.
MEDGAZ is granted the Environmental Impact Declaration.
The European Commission includes MEDGAZ in the "List of Projects of priority interest".
Another five international energy companies (BP, Endesa, Eni, Gaz de France and Total) join the project.
The European Investment Bank grants Medgaz a loan of 500 million euros.
The testing phase with gas commences.
Key points
MEDGAZ is a strategic project for Algeria, Spain, and the rest of Europe. On the one hand, natural gas is supplied directly from Algeria, without requiring transit through third countries, which considerably enhances security of supply. On the other hand, it is the most cost-effective way of delivering natural gas to Southern Europe and creating a gas hub, as highlighted by renowned energy pundits and experts such as the Mediterranean Energy Observatory (OME) and Wood Mackenzie. MEDGAZ also helps to meet growing demand for natural gas in Europe.
Environment and Safety
The environment and security are two interconnected aspects that play a fundamental role in our current world. Environmental protection not only safeguards ecosystems but is also key to maintaining social and economic stability. Environmental challenges, such as climate change and biodiversity loss, have profound implications for human security. Understanding and acting upon this symbiotic relationship is crucial for a sustainable future. This text explores how responsible environmental practices can reinforce our collective security.