Algeria Hints at Letting Go of Gas Pipeline Passing through Morocco

A gas pipeline in Algeria (File photo: Reuters)
A gas pipeline in Algeria (File photo: Reuters)
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Algeria Hints at Letting Go of Gas Pipeline Passing through Morocco

A gas pipeline in Algeria (File photo: Reuters)
A gas pipeline in Algeria (File photo: Reuters)

Algeria said Thursday that all the natural gas supplies in Spain are now provided through its gas pipeline connecting the two countries, bypassing Morocco, Algeria's official news agency APS reported.

The announcement, which comes two days after Algeria announced the severance of diplomatic relations with Morocco, suggests that Algiers will do without the Maghreb-Europe gas pipeline, which connects Europe via Morocco.

The Algerian Minister of Energy and Mines Mohamed Arkab made the announcement during a meeting with the Spanish ambassador.

Arkab affirmed: "Algeria's total commitment to cover all of Spain's natural gas supplies through the Medgaz," directly connecting the two countries, according to a ministry statement carried by APS.

Last week, before Algeria decided to "review" and then completely sever its relations with Morocco, Rabat said it was in favor of maintaining the Maghreb-Europe gas pipeline, the contract of which is due to expire in October 2021.

"Even in the event of non-renewal of this contract which ends next October, Algeria will be able to supply Spain, but also respond to any additional demand from the Spanish market without any problem," announced Sonatrach CEO last June.

APS also criticized Morocco's announcement of its willingness to extend the gas agreement between the two countries and said that Rabat reaps a "great benefit" from the passage of the gas pipeline to Europe.

Algiers announced on Tuesday that it was severing diplomatic relations with Rabat, citing "relentless hostile acts perpetrated by Morocco against Algeria."



IMF to Hold Conference on MENA in Cairo

A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 
A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 
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IMF to Hold Conference on MENA in Cairo

A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 
A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 

The International Monetary Fund (IMF) will hold the first annual Research Conference on the Middle East and North Africa (MENA) in Cairo, the global organization announced on Monday.

The conference aims to establish a forum for dialogue on pressing economic issues, promote policy-oriented academic research tailored to the needs and unique challenges of the region.

“Global shocks are adding to regional factors resulting in exceptionally uncertain economic environment for Middle East and North Africa (MENA) economies,” Jihad Azour, Director of the IMF Middle East and Central Asia Department and Pierre-Olivier Gourinchas, IMF chief economist, said in a joint statement.

They said conflicts, trade tensions, volatile commodity prices, changing climate conditions, energy transitions, rapid technological advances are altering the economic landscape of the region, posing severe challenges but also presenting opportunities for bold reforms that safeguard macroeconomic stability, build resilience, and raise living standards for all.

Therefore, the statement said, economic research is essential to provide reliable analysis and develop workable and innovative policy responses.

In this context, Azour and Gourinchas announced that the IMF will organize the annual Economic Research Conference on MENA, partnering with leading universities in the region.

The aim is to establish a forum for dialogue on pressing economic issues, promote policy-oriented academic research tailored to the needs and unique challenges of the region.

It will also provide a platform for the exchange of ideas and insights for academics, researchers, and policymakers in the MENA region and worldwide.

The inaugural conference, Steering Macroeconomic and Structural Policies in A Shifting Global Economic Landscape, will be co-organized with Onsi Sawiris School of Business at The American University in Cairo and take place in Cairo on May 18-19.

It will feature presentations and panel discussions by leading economists and policymakers, the statement said.