The report is an authoritative and up-to-date assessment of the major sector in this strategically important oil and gas producing country.
According to the report, Algeria is central for the future of the hydrocarbons market and over the next decade it will offer significant opportunities :
- Growth potential. Algeria’s potential for growth in the coming decade is significant. Its GDP is expected to grow at 4% over the next decade.
- Natural gas exports. The country is one of the world’s leading gas exporters, through LNG tankers and pipelines to Europe.
- Algeria‘s national oil company is investing heavily. Sonatrach is preparing to grow. It has changed its management team and is putting in place an USD 90 billion investment plan, particularly in exploration and development.
- Algeria is actively looking for upstream partners. Algeria is also hoping to lure in some new international partners to help develop its upstream production profile.
- Algeria’s domestic natural gas consumption is rising, from an estimated 1.18 Tcf in 2013 to 1.72 Tcf in 2023.
- Rising natural gas production. Algeria is planning to increase its production capacity to meet the demand both at home and abroad.
- An improving legal framework. The Algerian hydrocarbons law has undergone modifications to incentivise partnerships.
Algeria’s oil and gas industry is currently its most important revenue source. As Youcef Yousfi, Algeria’s former minister of energy says in the report, Algeria needs to expand its production of hydrocarbons to meet long term demand, diversify energy resources and markets, finance economic development, and accelerate industrialization.
This report covers how exploration is progressing, which fields are in development, exactly how Sonatrach will be spending its investments, which international partners are looking for closer collaborations, where Algeria’s exported gas is going, and how a domestic service sector is thriving in the current conditions.