The war in Ukraine that began in the spring of 2022 has had several consequences for the population all over the world; in addition to wheat and sunflower oil shortages, there is also the pressing problem with the natural gas supply. According to Eurostat data, gas consumption in Europe is distributed mainly between 46% Russian gas, 20% Norwegian, 11% Algerian and 5% Qatari. Although not all EU members are equally vulnerable to Moscow, the European bloc’s energy stability is being threatened due to European sanctions against Russia and the retaliation by Vladimir Putin’s regime. Seeking out alternatives to deal with this energy shortage has become a race for all, because putting an end to dependence on Russia is a complex, expensive process.

A few alternatives being considered directly involve countries in North Africa and the Gulf. One option is to increase the supply of Liquefied Natural Gas (LNG) with Qatar as the main supplier to Europe, followed by the United States, Nigeria and Algeria. Another possibility would be to diversify supplies by combining gas production from Saudi Arabia, Norway, Australia and Azerbaijan. Closer to Spain is the alternative of Algeria, the third largest supplier of gas to the European Union, of major importance for the countries in southern Europe. However, due to the political instability in that country, as well as its neighbor Libya, where conflict has endured since 2011, there are risks to supply causing volatility and stress in the markets.

During this meeting at Casa Árabe, Carole Nakhle will be talking with Gonzalo Escribano, Director of the Energy and Climate Change Program at the Real Instituto Elcano. The event will be moderated by Karim Hauser, Casa Árabe’s International Relations Coordinator.

Carole Nakhle is the founder and executive director of Crystol Energy. She is a specialist in politics, finance, market development, governance, energy taxes, fiscal systems and geopolitics. She is an advisor to the Washington-based International Tax and Investment Center and a leading energy expert with Geopolitical Intelligence Services. She also participates in the OECD Policy Dialogue on Resource-Based Development. In 2007, she founded the non-profit organization Access for Women in Energy. In 2017, she received the Honorary Professional Acknowledgment Award from the Tunisian Minister of Energy, Mines and Renewable Energy. And in 2021, she was selected CEO of the Year in the United Kingdom by CEO Monthly magazine. Her publications include numerous articles and reports, as well as two books: Petroleum Taxation: Sharing the Wealth, and Out of the Energy Labyrinth, the latter co-authored with former UK Secretary of State for Energy Lord David Howell.

Gonzalo Escribano is the Director of the Energy and Climate Change Program at the Real Instituto Elcano and a professor of Economic Policy with the UNED’S Department of Applied Economics. He does research on the topics of international energy issues, foreign factors in both Spanish and European energy policy, energy geopolitics, energy security and renewable energies, as well as others. Escribano holds a PhD in Economics and Business Administration and has been a visiting researcher at Florida State University and the Universidad Autónoma de Madrid, as well as the Ortega y Gasset Foundation’s Spanish Center for International Relations. His publications include Energy Security for the EU in the 21st Century: Markets, Geopolitics and Corridors, and several articles in international academic journals such as Energy Policy, European Journal of Political Economy and Global Policy.