European-Algerian Natural Gas Pipeline Deal is Delayed Again

From OilPrice.com

By Charles Kennedy

In an effort to reduce reliance on natural gas reserves from Russia and the high prices charged by Gazprom, Europe has been looking to invest in alternative pipeline projects to diversify the supply. One option being considered would see natural gas from Algeria, in North Africa, piped via Sardinia to Northern Italy; however the fate of this project is now up in the air as the date for making a decision regarding its viability has been delayed once again.

The pipeline would provide an 8 billion cubic metre link between Algeria and Europe, and grant the African nation the ability to increase its production and start fracking for shale gas, without worry of looking for a new market. However a series of delays have haunted the progress of the project since its conception ten years ago.

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