The oil and gas sector in Algeria is expected to pump $40 billion over the next 5 years, as part of a strategic plan aimed at increasing production to secure growing domestic demand and increase exports.
In this context, the Algerian Minister of Energy and Mines, Mohamed Arkab, said that his country is planning a very ambitious investment program in the field of hydrocarbons estimated at more than $40 billion, whether in exploration, production or transportation infrastructure.
He pointed out that the investments of the oil and gas sector in Algeria will allow maintaining the level of natural gas production of more than 110 billion cubic meters annually. More than 50% of it will be destined for export.
He stressed that Algeria is a reliable source in the global gas markets. Its share is about 5% of the global market, according to a statement by the Ministry of Energy, which was reviewed by the specialized energy platform.
Southern Sound Summit
Today, Friday, January 13, 2023, the Minister of Energy and Mines participated, via visual communication technology, in the work of a virtual session, entitled Energy Security and Development… A Roadmap to Prosperity, held within the framework of the “Voice of the South” summit organized by the Indian government.
The virtual session witnessed the participation of a number of ministers of countries responsible for energy, senior officials in the global energy sector and a group of experts. To discuss many energy issues, especially with regard to ensuring access to energy sources, diversifying and harnessing the energy potential in the developing world and renewable energies.
The Algerian Minister of Energy stressed the importance of such meetings, which allow access to various visions and perceptions of energy security, as well as the exchange and sharing of views on them, while enhancing mutual understanding of these crucial issues of common concern.
Arkab indicated that the event is an important opportunity for decision-makers and experts. To discuss, exchange ideas and work on consistent perceptions.
Energy security challenges
The Algerian Minister of Energy stressed that the summit comes in light of the major transformations taking place in the international energy scene in recent years, such as the increasing contribution of emerging economies, the emergence of new actors, the need to take into account climate changes, as well as the development of alternative sources of energy and renewable energies. In addition to the impact of crises, especially the Covid-19 health crisis.
He added that the challenges showed the increasingly central role of energy security, whose concept is often limited to the security of supplies and infrastructure security, while it must also include the security of ports, and be based on the principle of sustainability and security for all: the principle of supply and demand; by ensuring safe, reliable and regular supplies to free and competitive markets in the long term, as well as facilitating and securing investments and outlets; This allows laying the foundations for stability and mutual prosperity.
Arkab explained that energy security in Algeria is based on securing energy coverage in the country in the long term, as well as contributing to global energy security (oil, gas, etc.), especially in terms of regularity, stability and reliability.
He stressed that Algeria has succeeded in ensuring access to energy for all in affordable conditions, thus eliminating “energy fragility” and reducing the environmental impacts of the energy chain through a consumption model that focuses on natural gas.
renewable energy in Algeria
The Minister of Energy confirmed that Algeria is working to achieve a renewable energy development program that aims to achieve 15 gigawatts by 2035.
He said, “Work is also underway to implement a program that relies on replacing electricity from renewable sources with a capacity of 1.3 gigawatts instead of all electricity production from traditional sources (diesel and gas turbines) at oil sites in the south.”
He pointed out that all small power stations in the south have started to hybridize with the aim of reducing fossil fuel consumption (especially diesel) for locations far from the source of supply.
Electricity supply
The Algerian Minister of Energy affirmed that his country has strong potential to be a reliable supplier of electricity from renewable sources in the future.
He explained that Algeria continues its efforts in the field of energy efficiency and the development of the hydrogen sector and making it a strategic carrier to respect climate commitments and its energy transition program, as well as the option of nuclear energy to diversify the energy mix in Algeria.
He stressed that with the tendency to diversify sources of energy supplies, Algeria tends to exploit its mining resources similar to those used in modern technologies such as storing electricity such as lithium, zinc and others.
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