Algeria is studying a deal to export oil and gas to Jordan

Algeria is studying a deal to export oil and gas to Jordan

Algeria is considering exporting oil and gas to Jordan, to secure part of its needs, with the growing demand for fuel locally.

In this context, the Algerian Minister of Energy and Mines, Mohamed Arkab, said, during his meeting with a Jordanian parliamentary delegation: that his country is serious about studying the possibility of supplying Jordan with crude oil, liquefied gas, and liquefied petroleum gas.

Arkab stressed that aspects of cooperation with Jordan may extend to the distribution and storage of oil products, according to data seen by the specialized energy platform.

Jordan is facing a significant increase in the bill for oil derivatives, as it secures about 90% of its needs by importing them from abroad, with the decline in oil production from the Hamza field – the only oil field produced in the Kingdom -.

Part of the Algerian Energy Minister’s meeting with his Jordanian counterpart

energy cooperation

The Minister of Energy and Mines received a parliamentary delegation from Jordan, headed by the head of the Jordanian Parliamentary Fraternity Committee with the Arab Maghreb countries in the Jordanian Parliament.

The two sides discussed ways to strengthen and develop bilateral relations, especially in the field of energy and mines, according to a statement by the Algerian Energy Ministry.

The Minister of Energy and Mines gave an overview of the energy and mining sector in Algeria, and the investment and partnership opportunities that the sector provides, especially in the field of hydrocarbons (liquefied natural gas and liquefied petroleum gas), electricity, and renewable energies, in addition to the mining sector, such as the exploitation of phosphates and phosphate fertilizers.

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The meeting highlighted the importance of exchanging experiences between the two countries, and stressed the need to strengthen and develop exchanges in many areas of common interest.

Algeria is considering exporting oil and gas to Jordan
Part of the Algerian Energy Minister’s meeting with his Jordanian counterpart

Marketing of liquefied gas

Arkab also received, in a separate meeting, his Jordanian counterpart, Saleh Kharabsheh, and they discussed ways to enhance cooperation, especially in the field of marketing liquefied gas and liquefied petroleum gas, and in the field of electricity and renewable energies.

The two sides discussed means of cooperation and investment in the field of mines, especially the exploitation of phosphates and phosphate fertilizers, and in the field of mining geological studies.

The energy ministers of the two countries agreed to set up a work program, hold meetings between experts of the two countries, and draw up a road map to embody agreements in the fields of gas marketing, renewable energies, phosphate and ammonia exploitation, and geological studies.

It is noteworthy that Jordan’s imports of oil and its derivatives recorded a significant jump during the first 11 months of 2022, with an increase of 54.6%, compared to the same period with 2021.

Jordan’s imports of oil and its derivatives rose to about 3.249 billion dinars ($4.58 billion) by the end of November 2022, compared to 2.101 billion dinars ($2.96 billion) for the same period of 2021.

Algeria is considering exporting oil and gas to Jordan
Part of the Algerian Energy Minister’s meeting with a Jordanian parliamentary delegation

Renewable energy

Arkab confirmed that his ministry has drawn up a plan to implement joint projects between the two countries, benefit from Jordanian companies in the field of renewable energy and integrate them into the electrical grid.

He pointed out that Algeria is in need of Jordanian expertise in the field of energy, pointing out that Jordan enjoys a strategic location, as it enables it to produce electricity and distribute it to all countries in the region.

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He explained that Algeria manufactures everything needed for such projects, and is ready to invest in this field, according to the Jordanian News Agency, “Petra”.

Algeria is considering exporting oil and gas to Jordan
Part of the Algerian Energy Minister’s meeting with a Jordanian parliamentary delegation

Oil and gas exploration

For his part, Al-Suqur stressed the importance of developing joint cooperation mechanisms between the two countries, especially in the field of oil and gas exploration and production.

The head of the Parliamentary Energy and Mineral Resources Committee, Engineer Talal Ensour, stressed the importance of encouraging Algerian companies to explore oil and gas in Jordan, as well as studying the possibility of cooperation in establishing joint projects in the fields of oil and gas.

Ensour explained that the two sides should exchange experiences with regard to renewable energy, rationalize its use, prepare economic feasibility studies for joint projects, and exchange available experiences and information in various fields of renewable energy technologies.

The members of the Jordanian parliamentary delegation indicated that the investment opportunities in Jordan are feasible and have a great economic return, as there are many investment opportunities in Jordan in various economic sectors, such as the industrial and logistical sectors in development areas and industrial cities, and in the tourism and real estate sectors, in addition to tourist resorts, and in other sectors. Communications and information technology, renewable energy, air and rail transport.

He called on Algerian businessmen to take advantage of these investment advantages, especially with the issuance of the new investment law.




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