13 Leaders from Africa galvanized in Algiers for the Gas Exporting Countries Forum

By Abdul Rahman Bangura-

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NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- …the windfall to situate Algeria falls as a vital role in natural gas supplier, specifically for European nations advancing to diversify their energy sources and reduce reliance on Russia. During the three-day summit, which encompasses notable participants such as Russia, Iran, Qatar, and Venezuela, discussions intertwined around the evolving dynamics of the energy market. With renewable energy sources achieving traction and demand for oil and gas experiencing fluctuations, the forum provided a platform for coordination on investments, enabling ties with consumer nations, and strengthen production capacity.

Ahmed Dkhinissa, an analyst and professor at the University of Algiers, underscored the importance of the GECF in promoting transnational co-operation. He emphasized the essence for mutual understanding amongst member nations, highlighting the importance of addressing diverse issues ranging from climate concerns to geopolitical tensions.

Thus, Noureddine Legheliel, a financial analyst, offered insights into the ongoing debate surrounding renewable energies. While acknowledging their potential, Legheliel emphasized that fossil fuels, including natural gas, would continue to play a significant role in the energy mix for decades to come.

Algeria’s aspirations to become a leading gas supplier to Europe have garnered attention against the backdrop of efforts by European countries to curtail reliance on Russian energy. As the continent’s second-largest pipeline supplier of gas, Algeria has positioned itself as a reliable partner for countries like Spain and Italy.

Premier Giorgia Meloni’s visit to Algeria last year underscored the strengthening ties between the two nations. Highlighting Algeria’s growing prominence as an energy supplier, officials at the summit showcased the country’s commitment to providing secure and dependable energy resources. Recent agreements, including a deal with Germany’s VNG by Algeria’s state-owned energy company Sonatrach, underscore Algeria’s strategic significance in the global energy market.

Thus, difficulties continued for Algeria’s energy sector. Irrespective of lofty agendas to enlarge production, the country faces hard times in meeting its targets to European consumers. Infrastructure constraints, sluggish demand, and intensified competition from other gas-producing nations pose significant obstacles to Algeria’s aspirations.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent