The Director General of Foresight at the Ministry of Energy and Mines in Algeria, Miloud Medjled, said that his country achieved a record number of natural gas exports in 2022.
Miloud Medjled added, during an interview on the first radio station, that Algeria achieved a record in terms of an increase in natural gas exports during 2022, estimated at 56 billion cubic meters, indicating that this amount is expected to increase.
Moreover, he stated that the turnover also increased as a result of the increase in prices due to the increasing demand for this material.
He stated that Algeria fulfilled its obligations towards all customers, especially in supplying them with natural gas according to long and medium-term contracts.
He revealed that Algeria’s energy policy is to meet domestic demand, which has increased continuously between 3 and 4 per cent over the last decade, in addition to supplying the global markets.
The Director General of Foresight explained that the sector challenge is to rationalize the internal energy consumption, especially since it is constantly on the rise. Indicating that 50% of natural gas is directed to the production of electricity, as the sector works within the framework of the government’s policy to complete the renewable energies program in a record time that will allow the provision of tremendous quantities of natural gas to export.
The Algerian official stated that oil prices also witnessed a recovery during 2022, after the price of a barrel exceeded $100, indicating that this price is expected to rise during 2023, which will contribute to achieving balances in the Algerian economy, especially the financial one.
He stressed that Sonatrach had concluded several partnership contracts with foreigners in the hydrocarbon development field in 2022, allowing Algeria to raise oil and gas production between 2023 and 2028.