Algeria's limited spare capacity will constrain its ability to boost gas exports to Italy and Spain, and although higher global oil prices will increase Algeria's state revenues, persistent structural obstacles will likely impede foreign investment in its hydrocarbon projects. In recent weeks, Spain and Italy have sought additional Algerian gas to compensate for supply shortfalls from the Middle East caused by the Iran war. For instance, in late March, Spanish Foreign Minister Jose Manuel Albares visited Algiers, where he and Algerian officials agreed to try to boost Algerian gas exports by operating the Medgaz pipeline at full capacity, thereby increasing Algerian exports to Spain by up to 10%, and/or increasing liquefied natural gas (LNG) cargoes. According to the Spanish gas grid operator Enagas, Algerian gas accounted for over 29% of Spain's total gas imports in January and February, much of which arrived via the Medgaz pipeline.