Algeria Outlines Investment to 2022

Energy minister Mustapha Guitouni said November 20 that Algeria plans to invest $75bn during the period from 2018 to 2022 in the energy sector, reported state news agency APS.

Of that, $56bn (or 75%) would be invested in the oil and gas sector, he told the third high-level Algeria-EU energy dialogue in Algiers. There would also be investment in renewables and energy efficency.

He and the visiting EU climate and energy commissioner Miguel Arias Canete said November 20 that European companies' investment in Algeria could be encouraged in the natural gas, renewable energies, and energy efficiency sectors.

Guitouni also spoke about plans to revise petroleum legislation which have been under discussion for more than a year: "The aim is to achieve the country’s long-term energy security through a balanced win-win partnership with major oil and gas companies.”