OGFJ: Algeria - Finding the Gas Oasis

Despite possessing some of the world's largest resources of oil and gas, Algeria wants more. "There is a need to considerably expand the nation's hydrocarbon reserves to meet long term demand, to diversify our energy resources and markets, and to finance the economic development of the country and accelerate industrialization," explains Youcef Yousfi, Algeria's former minister of energy.

Indeed, estimates suggest Algeria's GDP will grow at a rate of around four percent over the next decade, with domestic gas consumption set to rise from an estimated 1.18 Tcf in 2013 to 1.72 Tcf in 2023. Dealing with this rise in domestic demand is becoming a priority for Algeria: as one of the world's leading gas exporters, through LNG tankers and pipelines to Europe, the country must add more annual production in order to meet the demand both at home and abroad. Something has to be done, and fortunately, the government is taking steps to address the challenges.

Read the full article HERE.