UPDATE 1-Algeria aims for over 30% share of European gas market

(Adds details, background)

Nov 2 (Reuters) - Algerian Energy Minister Mohamed Arkab said on Tuesday his country was seeking to increase its share of the European gas market to over the current 30%, state news agency APS reported.

“The minister reiterated the country’s ambition to further strengthen its presence on this market by suggesting additional quantities,” APS said.

Arkab also repeated that the North African nation would meet all Spanish gas supply commitments through the Medgaz pipeline and liquefied natural gas (LNG) shipments.

Algeria has decided not to renew the contract for the Maghreb-Europe pipeline that links it to Spain through Morocco, which expired on Sunday night.

It also announced the cessation of gas supplies to Morocco, almost two months after cutting diplomatic ties with the kingdom.

Arkab said total gas exports reached 30 billion cubic metres in the first nine months of this year, a 94% rise from the same period in 2020.

Reporting by Hamid Ould Ahmed Editing by Chris Reese and Steve Orlofsky