Africa-Press. Amid global energy disruptions linked to the closure of the Strait of Hormuz due to the conflict between Israel and the United States against Iran, which has caused fluctuations in oil and gas prices, discussions have resurfaced about the H2Med project. This hydrogen pipeline was planned several years ago to connect the Iberian Peninsula with the rest of Europe, but it faced French opposition, as its energy doctrine still relies on nuclear power rather than green hydrogen.
Today, we are witnessing a dramatic shift in events, aimed not only at alleviating energy security concerns but also at competing with the massive “Southern Hydrogen Corridor” pipeline project, which connects Algeria with Italy, Germany, and Austria. As is often the case in politics, where there is smoke, there is fire, it is reasonable to question the timing of Pierre Etienne Frank’s statement, the CEO of “H24,” who is pressuring the French government to revive the “H2Med” project and end its opposition to its realization. The Spanish newspaper “El Confidencial” reported on Saturday, May 16, that the CEO of “H24” is very optimistic about the future of the company after acquiring 80% of the shares of the Spanish company “Inagas Renovable.”
He asserts that he is doing his utmost to facilitate an agreement between Spain and France.
This announcement coincides with reports of a summit meeting between the Algerian and Spanish leaders in the coming days, in addition to a state visit by President Abdelmadjid Tebboune to Germany on July 16, where energy security will be a central topic of discussions between Algeria and Madrid on one side, and Algeria and Berlin on the other. Algeria is considered a reliable partner by its European counterparts, despite the new colonial and Zionist propaganda that spends most of its time distorting the image of a country that has never used energy as a weapon to pressure its partners.
Pierre Etienne Frank explained to “El Confidencial”: “We are actively working with the French government, as importing hydrogen will allow it to avoid allocating between 3 and 4 gigawatts of nuclear energy for its production, and will facilitate the integration of renewable energies into the French electricity grid.
Importing will be more cost-effective, and it is a beneficial solution for Spain, France, and Europe.” Pierre Etienne Frank stated that establishing infrastructure connecting Spain with France, Germany, and Italy is the only way to fully benefit from Spain’s leadership in emissions reduction.
In this context, the H2Med corridor becomes the focus of their investment strategy. Their forecasts indicate that construction work will begin between 2030 and 2032, as they are confident that Spanish and French policies will finally align after a historically unstable energy relationship. Pierre Etienne Frank’s investment in Spain, alongside Inagas Renovable (a subsidiary of the Spanish Inagas specializing in green hydrogen), is undoubtedly the most ambitious in this sector.
The fund, through its clean hydrogen infrastructure fund, has held a 30% stake in Inagas Renovable since 2022, and announced on April 21 an increase of its stake to 80% after reaching an agreement with Inagas, Navantia, and Pontegadia (Amancio Ortega).
Moreover, the Spanish company signed an agreement last April to acquire a 31.5% stake in the French Teriga from the Singaporean sovereign wealth fund GIC for 573 million euros, according to the Spanish National Securities Market Commission (CNMV).
Teriga is the second-largest operator of natural gas transmission and storage networks in France, operating in the southwest of the country. Its network spans approximately 5,100 kilometers of gas pipelines and includes two underground storage facilities, representing about 16% of the French gas transmission network.
Through this deal, Inagas becomes the second-largest shareholder in Teriga, the second-largest gas operator in France, after Snam (40.5%) and ahead of EDF (18%) and Credit Agricole (10%).
Thus, Inagas adds an industrial and European perspective that complements Snam’s perspective. The Teriga network is connected to the Inagas network via two international links.
Furthermore, the French company’s investment strengthens the alliance in projects such as H2Med and BarMar, the gas pipeline connecting Spain and France. The CEO of “H24” confirmed that “Spain is the best country in Europe for this development due to its resources and legal security.”
In this context, he does not hide his industrial relationships with Spanish energy giants such as Movistar and Repsol. The media impact of the French CEO’s statement in one of the Iberian media outlets is not innocent at all, as its objective is linked to a maneuver aimed at undermining the massive “Southern H2 Corridor” gas pipeline project, which connects Algeria with Italy, Austria, and Germany.
Germany is showing increasing enthusiasm for implementing this project, considering it a means to counter the threats facing its chemical industry sector, which heavily relies on energy and supply chains from Qatar and other Gulf countries.
These countries have been severely affected by the closure of the Strait of Hormuz and the damage to their oil and gas facilities following the war in the Middle East.
Germany, which is experiencing strained relations with its French partner, which has close ties with Italy, is preparing to reduce its reliance on the nuclear doctrine imposed by France and instead shift to green hydrogen.
In this context, the energy ministers of Italy, Germany, and Austria signed a joint political support letter in 2023 for the development of the “Southern H2 Corridor” gas pipeline, a 3,300-kilometer pipeline designed to transport hydrogen, expected to be the main means of hydrogen transport in Europe. The “Southern H2 Corridor” pipeline will transport double the amount of hydrogen that the “H2Med” pipeline will transport.
It is set to begin operations before 2030. During this competition, the transmission network operators (TNOs) in these regions, namely the Italian Snam, the Austrian TAG and GCA, and the German Bayernets, have laid out a roadmap regarding the implementation of the SoutH2Corridor gas pipeline project.
They expressed their support for the political agreement regarding the development of the gas pipeline that will connect Algeria with Italy, Austria, and Germany to transport hydrogen.
They had planned to implement it before 2030. Its capacity will be four million tons of hydrogen annually, equivalent to 133.2 terawatt-hours per year.
This is double the capacity of the Mediterranean hydrogen pipeline (H2Med), which is estimated to transport about two million tons.
