california18.com 19/10/2021
Whether it is the people or the economic experts, gas being Algeria’s wealth is information known to all. Recently the price of gas has increased, Algeria having long-term contracts for the supply of natural gas with many countries, receives this very good news for its economic recovery.
The CEO of the Sonatrach group, Toufik Hakkar, guest on the ENTV channel first spoke about the prices of oil and gas in the international market, which have experienced a significant increase recently. He explains that improving the health situation plays a very important role in it, in addition to the obstacles lifted from this market which has revived the sector. Demand is still not at the level of that recorded before the pandemic despite its increase, which still requires the establishment of an essential balance between supply and demand.
Hakkar indicates that the problem of supply and demand, particularly concerning gas, has now existed for almost six years. Years during which certain consuming countries have moved towards alternative energies, result? much less supply and investment.
A century and a half of unconventional gas reserve
Considering that Algeria has currently consumed half of its oil and gas reserves, this is not for all that worrying since these reserves are not fixed. According to the CEO of Sonatrach, each year Algeria carries out exploration operations, making it possible to maintain conventional reserves.
He reassures by explaining that Algeria benefits from a reserve of unconventional gas covering 150 years of consumption: from what is consumed nationally and exported. A century and a half of reserve which requires advanced technologies and methods.
The Algerian business leader also recalled the important role of the Organization of Petroleum Exporting Countries (OPEC), he explains that those calling for Algeria’s exit from OPEC are not aware of its repercussions. on the Algerian economy in general. He claims that the cooperation and efforts of the OPEC countries are behind the improvement and the rise in prices.
