Algeria to increase oil production in bid to export more oil to EU
Algeria to tap into new oil fields with the support of EU companies in order to increase gas production and thus increase exports to Europe.
Algeria might access new gas resources with the support of European companies in order to enhance gas output and export more fuel to the EU, said European Energy Commissioner Kadri Simson on Monday.
“Algeria has long been and still is an important natural gas supplier to Europe. Europe is the biggest market for Algerian natural gas. We are long-standing partners and we would both benefit from increasing volumes of Algeria gas potentially available to export to Europe. This increase could be achieved in cooperation with European companies by tapping into new gas fields,” Simson told a press conference.
In addition, Simon stated that the EU and Algeria share strong partnerships in the energy sector.
“We want to consolidate them [EU-Algeria energy ties] & further develop our partnership. That is the purpose of my visit to Algiers this week,” Simson wrote later on Twitter.
The ties in the #energy sector between #Algeria 🇩🇿 & the #EU 🇪🇺 are historical, strong & deep.— Kadri Simson (@KadriSimson) October 10, 2022
We want to consolidate them & further develop our partnership. That is the purpose of my visit to Algiers this week.
In an effort to diversify energy sources and lessen reliance on imports of Russian fossil fuel, the commissioner began a two-day working visit to Algeria on Sunday.
The EU-Algeria Strategic Partnership on Energy was established in 2015 with the goal of enhancing collaboration in the areas of renewable energy, energy efficiency, and natural gas.
According to the European Commission, Algeria is the EU's fifth-largest gas provider, supplying 8.2% of the bloc's total natural gas consumption in 2021. In contrast, the EU is Algeria's top importer of gas.