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The UAE’s “Taqa” acquisition of “Naturgy” raises questions about energy security in “Spain”

April 17, 2024

The Emirati company Taqa announced the acquisition of the Spanish energy company Naturgy, in a move that could give it significant control over the energy sector in Spain. These talks come as Spain seeks to ensure energy security amid fears of a gas shortage.

Naturgy has important gas contracts with Algeria, making it a major player in the Spanish energy market, and Spain's Criteria Holding owns a 26.7% stake in Naturgy.

Reports indicate that the deal may require approval from the Spanish government, which may impose conditions on Emirati energy; To maintain energy security and stability in the country.

These talks raise concerns about their impact on energy security in Spain, especially with the country's heavy reliance on natural gas. The Spanish government seeks to diversify its energy sources and reduce its dependence on imports, but this deal may lead to increased dependence on the United Arab Emirates.

In general, the UAE’s TAQA acquisition talks with Naturgy are attracting great interest in Spain and the world. It raises questions about energy security and foreign control of critical infrastructure.