EU and Algeria meet to strengthen energy partnership
Published by Alex Hithersay,
Editorial Assistant
Hydrocarbon Engineering,
The European Commissioner for Climate and Energy, Miguel Arias Cañete, will visit Algeria today, 20 November 2018, for high level meetings to restart the energy partnership between the EU and Algeria.
He will meet Mustapha Guitouni, Minister of Energy of Algeria. The EU-Algeria energy dialogue covers natural gas, renewable energy and energy efficiency.
Algeria is a reliable and competitive supplier of natural gas for the EU. Europe relies on Algerian gas for its security of supply, and Algeria relies on the European market for the security of its demand.
For the EU, the aim is to improve the legislative and regulatory framework for gas and make it more attractive for investors.
Diversification is also an important element when ensuring the security of gas supply in the EU. The EU co-financed or committed to co-finance LNG infrastructure projects with an overall value of over €638 million. In addition to the 150 billion m3 of spare capacity it has, the EU is supporting 14 LNG infrastructure projects that will increase capacity by an additional 15 billion m3 by 2021, which could accommodate LNG imports if the market conditions are adequate and the price is competitive.
The global LNG market is becoming more fluid and competitive. Between 2017 and 2023, global LNG trade is expected to grow by more than 100 billion m3 from 391 billion – 505 billion m3. According to the International Energy Agency, imports of LNG to Europe are expected to increase by almost 20% by 2040 compared to 2016 levels.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/20112018/eu-and-algeria-meet-to-strengthen-energy-partnership/
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