Algeria’s exports of liquefied natural gas are expected to rise during the current year 2022 to approximately 22 million cubic meters, according to Minister of Energy and Mines Mohamed Arkab.
In a press interview for the latest monthly bulletin issued by the Organization of Petroleum Exporting Countries “OPEC”, Arkab said that Algeria is “working to enter other markets, to increase its exports of LNG, given our capabilities and as a great challenge, given the difficulty of competition in these markets.” In which major international companies with great export capabilities are active.
Arkab indicated that “for the year 2022, it is expected to export approximately 22 million cubic meters of LNG.”
Arkab stated that in parallel with the global demand for natural gas, Algeria’s exports in 2021 witnessed a significant increase of 40 percent (54 percent for natural gas and 13 percent for liquefied gas), reaching nearly 56 billion cubic meters. He also pointed out that “Algeria is one of the main gas suppliers in the European market (11% of Europe’s gas imports).
Arkab stressed that Algeria, which possesses important reserves of natural gas, seeks to develop upstream activity to expand the base of these reserves, especially natural gas, in order to increase primary production, by intensifying research and exploration efforts in partnership with foreigners, which are relied upon after the amendments made to the hydrocarbons law. . As well as improving the performance of exploration and exploitation of hydrocarbon reservoirs using modern technologies in order to raise the recovery rate. Accordingly, “we expect that our production of natural gas will increase by 4 percent in early 2026.”
In the same context, the minister mentioned that the sharp drop in oil prices has caused a slowdown in the investments of international companies and their decline in the world, which led to the scarcity of oil supplies and the rise in prices and inflation in the short and medium term. and gaseous in light of the increase in prices.
The Arab countries in general, and Algeria in particular, must move forward with investment to maintain their position and restore balance to the markets.
On the future of prices, he stressed that “it is very difficult to predict the prices of energy materials, especially oil and gas prices in the long term, but there will be a qualitative leap in natural gas prices and this is to increase demand for them, with stability in average prices in the oil market.”
Hydrocarbon production increased three times compared to 1971
When referring to the achievements of the Algerian energy sector since the restoration of national sovereignty, Arkab stressed that exploration and development efforts have made more than 600 oil and gas discoveries since 1971. As for the primary commercial production of hydrocarbons, it has reached, according to the minister, “the limits of 164 million tons.” Oil equivalent by the end of 2021, i.e. an increase (+14 percent) compared to 2020, and more than three times compared to the level of 1971.
As for the valorization of hydrocarbons, “many major projects have been completed, such as the condensate refinery in Skikda with a production capacity of 5.5 million tons per year, which is added to the five existing refineries, bringing the total Algerian refining capacity to 30 million tons per year.”
He also stated that the annual average of exports of hydrocarbon products has been estimated at 91 million tons of oil equivalent since 1971. With regard to hydrogen, Arkab revealed that the development of hydrogen has been included among the “very important” goals of the Algerian government, noting that a national strategy as well as a roadmap for developing This kind of energy.
“Algeria has great capabilities in this field that will allow us to be among the countries that will have a great specialization and a role in the production and marketing of hydrogen in the world, and thus hydrogen can allow Algeria to enter a new and promising export market,” the minister affirms
Fourals.com
