- The national oil company of Algeria ,Sonatrach oil has announced that its gas production is expected to increase by 10 billion cubic metres in 2023.
The national oil company of Algeria, Sonatrach oil has announced that its gas production is expected to increase by 10 billion cubic metres in 2023. Making the announcement on state radio, Rachid Zerdani, Sonatrach’s director of strategy and planning disclosed that the company is developing operations across several oil and gas fields and improving production capabilities which will improve the production by 4 billion cubic metres in the current year. By 2023, the production is expected to go up by between 8 and 10bn cubic metres. Currently Algeria’s total gas production is estimated at 130 billion cubic metres per annum.
The significant oil and gas discoveries in various regions in the south of the country since the beginning of this year has evoked a lot of interest from European companies as Europe is struggling to diversify its gas supplies from Russia.
Also read;
https://trendsnafrica.com/italian-energy-giant-eni-acquires-bps-business-in-algeria/
https://trendsnafrica.com/sonatrach-to-halt-gas-exports-to-spain-through-morocco/
https://trendsnafrica.com/europe-seeks-gas-deals-with-algeria-to-sidestep-russia/
Algeria stands to gain from the deals with Europe after the recent global surge in natural gas prices. Sonatrach Group concluded a deal with Italy’s Enel SpA on September 29th September. Another deal with Naturgy Energy Group SA, is in the pipeline ending a months-long deadlock with the Spanish utility over contractual price revisions. After Algeria decided to shut down one of two gas pipelines connecting with Spain amidst political tussle with Morocco, US replaced Algeria as the largest gas supplier.
