It seems that Abu Dhabi’s sabotage plans in the region and its hostile move towards Algeria are no longer limited to the political aspect, but have reached the economic aspect, which was embodied by its efforts to acquire the Spanish gas company “Naturgy”, which is a strategic partner of Algeria and has huge contracts and projects with it.

The Spanish newspaper “El Confidential” Digital reported that Abu Dhabi Energy Company, which is 90 percent controlled by Abu Dhabi Developmental Holding, is considering launching a takeover bid for 100 percent of the assets of the Spanish gas company “Naturgy”.

The Spanish newspaper went on to say that the Emiratis have begun to contact the main shareholders of the company, which is headed by Francisco Reines, noting that the Spanish government will nevertheless have the final say on the matter.

Confidential Digital, citing informed sources, reported Rabat’s interest in Abu Dhabi’s efforts to acquire the Spanish company, given the importance that gas has become for Morocco in light of Algeria’s closure of its pipeline through the country.

The same source adds that Naturgy has huge, long-term contracts with Sonatrach, the oil and gas giant controlled by the Algerian state, which is a strategic partner of Naturgy and a 4 percent shareholder.

The newspaper also highlighted that the alliance between the two companies also includes some major supply infrastructure projects, as Naturgy and Sonatrach share 50% of the ownership of Medgas, the gas pipeline linking Algeria and Spain to supply these commodities across the Mediterranean Sea.

The Spanish newspaper stresses that Madrid must give its approval to the operation without endangering the security of national supplies, especially since Algeria provides two-thirds of Spain’s gas needs, noting that it is also aware of the existence of a diplomatic crisis between Algeria and Abu Dhabi, which complicates matters even more.

The Spanish fear is supported by previous threats made to Algeria regarding the possibility of cancelling gas supply contracts signed with Spanish companies if they discover that part of the gas will eventually be resold to Morocco, which led Madrid to deny its intention to direct any quantity of Algerian gas to Rabat.

According to Confidential Digital, the Emirati group can acquire up to 54% of Naturgy through the takeover bid launched for 100% of the capital.

If Abu Dhabi succeeds in convincing the Spanish with its offer, the question that will be raised is the fate of the Spanish company’s investments and assets in Algeria and whether Algeria will refuse the Emiratis’ acquisition of the Spanish company’s assets in Algeria and use its right of first refusal to obtain them.

Algeria will not take any risks given the geopolitical situation and the suspicious moves of the UAE at all levels to undermine its interests by allowing it to penetrate one of Algeria’s most important economic sectors and its energy backbone.

In the same context, the Spanish newspaper “El Confidencial” expected that Algeria would even try to influence the Emiratis’ efforts to acquire “Naturgy”, since Algeria is a strategic partner of Spain in the gas sector and a shareholder in the Spanish gas company.

Although the Algerian supreme leadership did not directly mention the UAE, all the evidence confirms that it is the targeted country, with the statement of the Supreme Security Council last January, as well as the words of the President of the Republic, Mr. Abdelmadjid Tebboune, in his last media interview, in which he stressed that Algeria’s patience is beginning to run out, of its hostile moves, stressing that Algeria will not kneel.

Bilel Talamaali / English Version: Med.B