2023-12-10 17:30:00
ALGIERS – The energy sector experienced an exceptional year in 2023, marked in particular by the signing of several agreements with international firms and hydrocarbon discoveries allowing the country to increase its export revenues and have strategic reserves for national economy.
The orientations of the President of the Republic, Mr. Abdelmadjid Tebboune, during the last council of ministers of the year 2022, those of “working to raise the level of gas production, with a view to preserving the national average of consumption, “on the one hand, and to strengthen exports, on the other hand, in execution of the commitments made by Algeria to its foreign partners” were thus materialized in 2023.
The year ends with a record rich in achievements for the Energy sector, including the conclusion of several agreements signed by Sonatrach with global firms, relating to various areas of cooperation linked to hydrocarbons and which confirm the role of the national company as a reliable energy supplier.
According to the National Agency for the Development of Hydrocarbon Resources (ALNAFT), Sonatrach signed, during the year 2023, within the framework of the new law on hydrocarbons, contracts with six global companies, namely Eni, Occidental Petroleum , TotalEnergies, Sinopec and Pertamina, while negotiations with major companies are underway for the conclusion of other contracts.
A new gas pipeline and underwater electric cable with Italy
Among the important agreements also signed in 2023, those signed by the Sonatrach group and the Italian group “ENI” in Algiers, relating to the increase in gas supplies and the reduction of emissions.
Bilateral strategic agreements were notably signed, in the presence of President Tebboune, and the President of the Italian Council of Ministers, Ms. Giorgia Meloni, who was visiting Algeria, and consist of the construction of a new gas pipeline to transport gas natural and alternatively hydrogen and blue and green ammonia, as well as the laying of an underwater electric cable and the extension of the current natural gas liquefaction capacity.
“It is a project of extreme importance which will establish Italy as a hub for the distribution of energy products to Europe,” underlined the President of the Republic, speaking of the new gas pipeline project.
In the field of marketing, major gas delivery contracts were also finalized in 2023. These include, among others, the agreement signed by Sonatrach with the Chinese company Wanhua Chemical on the gas supply to liquefied petroleum (LPG) from the Wanhue petrochemical complex in China.
Sonatrach also signed, during the year which is ending, an important agreement with the Turkish company Botas, relating to the sale and purchase of liquefied natural gas (LNG) intended for the Turkish market for a period of 3 years.
In addition, the national company made its first delivery of LNG to Eni in July 2023, to the new floating regasification terminal of Piombino in Italy, delivered by an LNG carrier owned by the subsidiary Hyproc, thus opening prospects for increasing gas volumes. to this new terminal.
The year 2023 also ends with the resumption of Sonatrach’s activities in Libya.
In terms of discoveries, the company announced the completion of 10 new discoveries of hydrocarbon deposits, in addition to the 16 others made in 2022, discoveries which confirm the significant oil and gas potential that the country holds and the efforts made in terms of exploration and renewal of reserves.
At the end of 2022, with regard to gas, President Tebboune noted the need to increase discoveries in order to increase the volume of exports from around 53 billion m3 currently to nearly 100 billion m3 in the long term.
In terms of export revenues, Algeria recorded, at the end of September 2023, around 38 billion dollars and should reach, according to government forecasts, 48 billion dollars at the end of the year.
Furthermore, important energy infrastructures have been received, including the Sidi Bel Abbes fuel storage and distribution center, with a capacity of 180,000 m3, ensuring fuel autonomy of 30 days for the West and South region. -West of the country.
And in order to succeed in the energy transition, several projects have been undertaken in 2023, including the launch of the call for tenders by the Sonelgaz group for the production of 2,000 MW of photovoltaic solar electricity. This consultation includes the construction of 15 solar power plants across 12 wilayas with a unit power varying between 80 and 220 MW, in addition to the construction of connection installations to the electricity network.
1702234135
#agreements #discoveries.. #prolific #year #sector
