(2 minutes read)
A delegation of experts from Chevron has been sent to Algeria to assess the country’s vast shale gas resources and explore opportunities with Algerian officials.
Chevron Corporation, the American multinational energy corporation predominantly in oil and gas, is studying the possibility of an energy exploration agreement with Algeria. A delegation of experts from Chevron has been sent to Algeria to assess the country’s vast shale gas resources and explore opportunities with Algerian officials.
Chevron joins other global energy majors including Eni and TotalEnergies, in exploring partnerships with Algeria and other North African Countries in their quest for an alternate source of natural gas.
It has been estimated that at 706.9 trillion cubic feet, Algeria holds the world’s third-biggest shale gas resources behind China and Argentina. According to the U.S. Energy Information Administration, the U.S. shale gas resources are around 622.5 trillion cubic feet.
Chevron already has a significant presence in the Mediterranean region. Apart from holding a major stake in the Leviathan gas field offshore Israel, one of the world’s largest deepwater gas discoveries, the U.S. company operates the Nargis Offshore Area Concession offshore Egypt in the Eastern Mediterranean Sea. Last month, Eni reported a major new gas discovery at the Nargis-1 exploration well where Chevron Holdings C Pte. Ltd. is the operator with a 45% interest.
Also Read;
https://trendsnafrica.com/algerian-president-to-visit-france-in-may-2023/
The Mediterranean and North Africa region is viewed as a major source of gas to Europe as part of Europe’s strategy to drift away from Russia. Experts even recommend that Europe should regard Africa as a “south-north” energy axis to deliver gas from Africa to the EU.
