Russian FM intends to visit Algeria soon

• 

Russian Foreign Minister Sergei Lavrov met today, in Moscow, with his Algerian counterpart Ramtane Lamamra, on the sidelines of a meeting with representatives of the contact group of the League of Arab States.

During the meeting, the Russian Foreign Minister expressed his intention to visit Algeria soon, according to a statement by the Russian Foreign Ministry, noting that he was "glad" to have the opportunity to discuss bilateral relations on the sidelines of the meeting with the representatives of the LAS [the League of Arab States] Contact Group. 

"I hope to pay a return visit to Algeria in the near future," Lavrov said, jokingly, "I will insist that you receive me." He added, "better late than never. But I will be guided by your logic ‘the sooner the better."

The head of the Algerian energy company, Sonatrach, announced Saturday that the company's capabilities at the present time cannot compensate for Russian gas supplies.

This came days after the visit of US Secretary of State, Anthony Blinken, to Algeria, where the most important goals of the visit were the United States' efforts to pressure Algeria to compensate for Russian gas exported to Europe.

 Algeria not to make up for Russian gas exports to Europe

On February 25, Algerian national oil giant Sonatrach said reports about Algeria compensating the European market for Russian gas supplies are completely false.

Algerian media quoted a senior Sonatrach official as saying the company would not sell any additional energy supplies to Algiers' partners outside the framework of existing futures.

Algiers will not be increasing its gas supplies to Europe without existing futures, the Sonatrach official said, highlighting that those talking about Algerian gas making up for Russian gas are completely ignorant of the reality of Russian production and exports.

Regarding media reports suggesting the possibility of Algeria compensating for Russian gas exports in Europe in light of the Ukrainian crisis, the source said the claims were mere "dreams" and words by those who have no information about the extent of Russian exports, which amounted to 240 billion cubic meters, and its production capabilities exceed 600 billion cubic meters.

For comparison, Algeria produces around 130 billion cubic meters a year and exports 40 billion cubic meters.

The official said gas, unlike oil, cannot be stocked, and all that is produced is sold, noting that investing in exploration, production, and transport would require a market, and that requires futures to market this product.

"It is impossible to store gas, and the gas we have and that we can produce is already under medium-term and long-term futures of up to 10 years with partners, and the agreed-upon prices are of a special nature; they change with any changes to the price of crude oil and the international energy market in general," he said.

Russian gas exports to Europe could be impeded in light of the Western sanctions on Moscow due to the special military operation in Ukraine.