Algeria positions itself as leading gas exporter to EU
Algeria’s aspiration of becoming Europe’s primary gas supplier was unearthed during an international summit, according to The Associated Press.
The Gas Exporting Countries Forum (GECF) consisted of a three-day summit which saw representatives from 13 countries partake in discussions to address existing issues and explore new collaborative routes, in Algiers on 29th February. The GECF allowed countries to discuss investments, relations with consumer countries, and increasing production capacity.
Algeria hopes to take advantage of European countries that wish to reduce their reliance on Russia for energy. Since Russia invaded Ukraine in February 2022, European governments have desperately sought alternative sources to Russian gas in protest of the “unjustifiable war”.
READ: Algeria: Tebboune likely to win second term
S&P Global reported that German gas importer, VNG, will start to import Algerian gas after a deal was struck with Sonatrach, Algeria’s state-owned oil company. In 2023, Algeria exported 30.4 billion cubic meters (Bcm) of gas to Italy and Spain.
Analyst and professor at the University of Algiers, Ahmed Dkhinissa, emphasised the importance of global cooperation within the GECF when addressing issues such as climate concerns and international political tensions.
With the increased interest in renewable energy, Algeria’s Ministry of Energy and Mines participated in a collaborative workshop with the European Union which detailed information on the sector of renewable hydrogen.
However, financial analyst Noureddine Legheliel stated that while renewable energy sources are a prominent topic of discussion within the energy trade, fossil fuels will continue to have a significant role in energy supply for decades to come.
In January last year, Italy’s prime minister, Giorgia Meloni visited President Tebboune to secure their strategic partnership and swap out Russia’s gas supply for Algeria’s. Similarly, Algeria has traded Russia’s weapons imports for Italian arms, in a bid to be less reliant on the Slavic nation.
Algeria appears to be more friendly with European states than its neighbours in the Maghreb region, as shown by the latest Maghreb-Spain maritime shipping agreement that excludes Algeria.
AP/EuroNews/S&P Global
