Page 11 - AfrOil Week 08 2023

AfrOil PERFORMANCE AfrOil

Algeria’s gas production to rise

by 10 bcm per year from 2024

ALGERIA ALGERIA’S gas production is expected to supplier last year, following Russia and Nor-
increase by 10bn cubic metres per year starting way. The North African country exports gas to
in 2024, as the government and state-owned Europe via underwater pipelines to Spain and
group Sonatrach are striking deals with foreign Italy. It agreed to step up its energy supplies to
energy firms such as Italy’s Eni, according to Italy by 20% in 2022 to around 25 bcm and also
the energy and mines ministry official Miloud was Spain’s biggest gas supplier, accounting for
Mdjelled. Sonatrach and Eni agreed last year 43% of the total gas needs of the South European
to develop different projects with investments country. ™.
worth $6bn.
The additional gas output will help meet
rising foreign demand, Mdjelled was quoted as
saying by ANSAMED.
Mdjelled further noted that the Algerian gov-
ernment aimed to invest up to $25bn in green
hydrogen projects by 2035. The North African
country will transport hydrogen fuel to Europe
through a new pipeline that will connect it to
Italy, he said.
Algeria produced 130 bcm of gas in 2022.
Nearly 56 bcm of the output was exported and
50 bcm was consumed locally. The remaining
volumes were re-injected into oil and gas wells
to maintain reservoir pressure.
In early January, Algeria’s Ministry of Energy
and Mines Mohamed Arkab pledged to accel-
erate the implementation of gas projects in a
number of states during 2023 while working to
remove obstacles that hindered their implemen-
tation. He was speaking during an address to the
National People’s Assembly.
Algeria was Europe’s third-largest gas Algeria exports gas to Italy and Spain via subsea pipelines (Image: EIA)

POLICY
Chevron, Egyptian Ministry of Petroleum

sign MoU on methane emissions reduction

EGYPT CHEVRON (US) has agreed to co-operate with membership in the oil and gas track of the
Egypt’s Ministry of Petroleum and Mineral Global Methane Pledge (GMP) initiative, it said.
Resources with the goal of reducing methane The agreement also builds on the Sharm El
emissions in the oil and gas sector. Sheikh Oil & Gas Methane Reduction Roadmap,
In a statement, Chevron explained that it which Egypt’s Petroleum and Mineral Resources
had signed a memorandum of understanding Minister Tarek El Molla unveiled last Novem-
(MoU) with the ministry on February 21 to lay ber during the Decarbonisation Day event at the
a foundation for partnership on this front. The COP27 summit. (El Molla witnessed the signing
document provides for the two sides to share of the MoU on February 21, as did Clay Neff, the
best practices and expertise in the area of reduc- president of Chevron International Exploration
ing methane emissions and is line with Egypt’s and Production, the statement noted.)

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