Rédaction Africa Links 24 with Africanews
Published on 2024-03-01 12:47:42
Algeria recently hosted envoys from energy-rich nations at a crucial summit focused on addressing current challenges and exploring potential collaborations. The Gas Exporting Countries Forum (GECF) brought together leaders from 13 countries in Algiers to discuss Algeria’s goal of becoming a key natural gas supplier, especially for European countries looking to diversify their energy sources and reduce reliance on Russia.
Over the course of three days, prominent participants such as Russia, Iran, Qatar, and Venezuela engaged in discussions about the shifting dynamics of the energy market. With renewable energy sources gaining momentum and the demand for oil and gas fluctuating, the summit provided a platform for coordinating investments, strengthening connections with consumer countries, and enhancing production capacity.
Ahmed Dkhinissa, an analyst and professor at the University of Algiers, highlighted the importance of the GECF in fostering global cooperation. He emphasized the need for member nations to reach consensus on various issues, from climate concerns to geopolitical tensions.
Financial analyst Noureddine Legheliel added his perspective on the ongoing debate surrounding renewable energies. While acknowledging their potential, Legheliel underscored the continuing significance of fossil fuels, including natural gas, in the energy mix for years to come.
Algeria’s ambition to emerge as a top gas supplier to Europe has drawn attention, particularly in light of European efforts to reduce reliance on Russian energy. As the continent’s second-largest pipeline gas supplier, Algeria has positioned itself as a dependable partner for countries like Spain and Italy. The visit of Premier Giorgia Meloni to Algeria last year further strengthened the ties between the two nations.
Officials at the summit emphasized Algeria’s growing role as an energy supplier, showcasing the country’s commitment to providing secure and reliable energy resources. Recent agreements, such as the one between Algeria’s state-owned energy company Sonatrach and Germany’s VNG, highlight Algeria’s strategic importance in the global energy market.
Despite these positive developments, Algeria’s energy sector faces challenges. The country struggles to meet its commitments to European consumers due to infrastructure limitations, sluggish demand, and heightened competition from other gas-producing nations. Expanding production remains a key objective, but obstacles remain in achieving Algeria’s ambitions in the energy market.
In conclusion, the Gas Exporting Countries Forum in Algeria served as a platform for energy-rich nations to address pressing issues, coordinate investments, and explore new avenues for collaboration. Algeria’s aspiration to become a leading gas supplier to Europe highlights its strategic position in the global energy landscape, even as challenges persist in the country’s efforts to enhance production and meet the demands of its consumers.
Read Original article on Africa News
