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Algerian Energy Minister Abdelmadjid Attar said Algeria's natural gas exports are expected to fall 4.
7 percent this year, mainly due to reduced European demand and competition for cheaper supplies from the United States
.
Abdelmadjid Attar said Algeria, which accounts for 95 percent of its oil and gas sales revenue from abroad, is expected to export 41 billion cubic meters of natural gas this year, down from 43 billion cubic meters
in 2019.
In 2019, the country's oil and gas revenues reached $33 billion and are expected to reach $
23 billion this year.
Total gas production will reach 126 billion cubic meters, compared to 127 billion cubic meters in 2019, with production hampered by ageing fields and a lack of investment, but domestic consumption has grown 5.
3 percent annually since 2009 to 46 billion cubic meters
in 2019, Attar said.
Algeria passed an energy law last year aimed at making its oil and gas sector a more attractive investment proposition, but has yet to issue specific regulations
that will inform investment decisions.
Algerian Energy Minister Abdelmadjid Attar said Algeria's natural gas exports are expected to fall 4.
7 percent this year, mainly due to reduced European demand and competition for cheaper supplies from the United States
.
Abdelmadjid Attar said Algeria, which accounts for 95 percent of its oil and gas sales revenue from abroad, is expected to export 41 billion cubic meters of natural gas this year, down from 43 billion cubic meters
in 2019.
In 2019, the country's oil and gas revenues reached $33 billion and are expected to reach $
23 billion this year.
Total gas production will reach 126 billion cubic meters, compared to 127 billion cubic meters in 2019, with production hampered by ageing fields and a lack of investment, but domestic consumption has grown 5.
3 percent annually since 2009 to 46 billion cubic meters
in 2019, Attar said.
Algeria passed an energy law last year aimed at making its oil and gas sector a more attractive investment proposition, but has yet to issue specific regulations
that will inform investment decisions.
