EU countries are quite concerned about the availability of natural gas to those countries which are heavily dependent on Russian supplies. Algeria is already a major source of natural gas, holding 159 trillion cubic feet (Tcf) of proven reserves, ranking 11th in the world. Therefore, there is a huge surplus of natural gas for export to other states and geopolitical regions. Leaders of the European Commission are echoing the fears of several heads-of-state over the social impact of the decline in Russian supplies of natural gas. Prices will continue to rise and remain elevated for agricultural goods, natural gas, electricity and petroleum products.

Source: Ethiopian News August 30, 2022 09:09 UTC