Algerian President Abdel Majid Tebboune has highlighted the resilience of the natural gas industry in the face of global energy crises. Speaking at the 8th Summit of Heads of State and Government of the Gas Exporting Countries Forum in Moscow, President Tebboune emphasized that natural gas has proven its ability to withstand successive crises. He noted that the industry faces a complex international environment, with intersecting considerations of energy security and climate change.
President Tebboune warned against the impact of fluctuating legislation on markets, stating that it can fuel instability and limit investment attractiveness. He called for a constructive dialogue between concerned countries to establish a consensual regulatory framework that provides necessary guarantees for investments. The President also emphasized the need for a fair and stable price that reflects the value of resources and the size of investments.
The Algerian President outlined his country's approach to a fair and gradual energy transition, which prioritizes national sovereignty over natural resources and meeting global market requirements. He highlighted Algeria's efforts to reduce its carbon footprint and develop clean energy capacities. President Tebboune also mentioned the country's goal of producing 15,000 megawatts of renewable energy by 2035, with a budget of approximately 22 billion euros.
President Tebboune emphasized Algeria's ambition to become a major player in the hydrogen sector through the South2 Corridor project. He noted that this project will enable the development of export capacities for gas, electricity, ammonia, and hydrogen. The President also highlighted Algeria's strategic projects, including the Gara Djebilet iron ore exploitation project and the integrated phosphate project.
The President stressed the importance of cooperation between countries to address the challenges facing the gas industry. He called for the expansion of technology and innovation to reduce emissions and improve energy efficiency. President Tebboune also emphasized Algeria's commitment to playing a leading role in the Gas Exporting Countries Forum to promote cooperation and stability in global gas markets.
President Tebboune reviewed Algeria's history in the gas industry, highlighting its pioneering role in the development of liquefied natural gas. He noted that Algeria is a major gas producer and exporter, with a reputation for reliability in meeting its commitments. The President reaffirmed Algeria's commitment to playing a safe and reliable supplier role while developing its production and export capacities.
Russian President Vladimir Putin praised the strong historical relations between Algeria and Russia, describing Algeria as a strategic ally. He commended the ongoing consultation and coordination mechanisms between the two countries in the energy sector. The meeting between President Tebboune and President Putin highlights the strong partnership between Algeria and Russia in the energy sector.
Key points
- Algeria's commitment to a fair and gradual energy transition
- Development of renewable energy capacities and hydrogen sector
- Strengthening cooperation between gas-exporting countries to promote stability in global markets
