The Algeria-EU Energy Business Forum kicked off on Tuesday with the participation of Algerian Prime Minister Aymen Benabderrahmane, Energy and Mines Minister Mohamed Arkab, the European Commissioner for Energy Kadri Simson, and some 100 European and Algerian energy businessmen and investors.
Benabderrahmane called for European investors to expand their stakes in Algeria’s energy sector to increase the country’s output and meet growing demand. “Algeria is the largest natural gas producer in Africa, and the third-largest supplier of fossil fuel to EU, while EU, in turn, is the most important market for Algerian gas,” the prime minister said.
The Algerian leader said both his country and Europe seek to boost energy security and promote environmentally friendly policies, including greater efficiency and expanded use of renewable energy sources. The European commissioner said that Europe was seeking new gas suppliers following the end of cooperation with Russia. She referred to “a big shift in the EU’s gas support.” A 2013 memorandum of understanding between Algeria and the EU established cooperation covering all aspects of oil and gas, renewable energy, and energy efficiency, as well as the legal and regulatory framework.