The conflict in the Middle East, which triggered the second global energy shock in four years, has handed Algeria another opportunity to strengthen its position as a key gas supplier to Europe, with Italy and Spain beating a path to its door. At the same time, Algiers has managed to attract fresh foreign investment in its upstream. That will be needed in the years ahead if it is to avoid becoming a net importer, as domestic demand surges. The North African powerhouse also remains a linchpin for regional security, an increasingly important role amid growing instability across the Sahel.