26 December 2022 | Other

Algerian president instructed ministers to increase gas production to boost exports

Algerian Minister of Energy and Extractive Industries Mohammed Arkab will be responsible for increasing the level of gas production. That was issued by President A. Tebboune in order to maintain the average national level of consumption. It will increase exports as part of the commitments made by Algeria to its foreign partners.

According to Tebboune, Algeria is considered a very reliable energy partner for Europe. On December 13, the president confirmed the intentions of Algeria to increase gas production for export. Earlier, the country's Prime Minister A. Benabderrahmane stated the country intends to comply with its future obligations on gas exports, especially to the European market.

This year, Algerian gas exports reached a record level of 56 billion cubic meters. According to Sonatrach, the country's total production is 130 billion a year, of which more than 50 billion is exported. In recent months, Algeria signed an agreement to supply additional gas to Italy in the amount of 9 billion cubic meters per year, as well as to supply 300 million gas to Slovenia for the first time in 10 years.

Company MarketCheese
Period: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 67
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 50
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 52
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 32
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 66
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 67
Go to forecasts