Algeria’s gas exports to fall sharply in 2025 -minister

PUBLISHED: Mon, 10 Aug 2020 13:41:15 GMT

ALGIERS (Reuters) – Algeria’s gas exports will drop to 26 billion to 30 billion cubic metres per year in 2025 from 45 billion in 2020, energy minister Abdelmadjid Attar told Ennahar TV.

“Exports in the period 2025-2030 will be between 26 to 30 billion cubic metres per year,” Attar told Ennahar.

The decline is mainly due to stagnant output, a rise in domestic consumption, and insufficient investment.

Algeria’s gas exports peaked in 2005 at 64 billion cubic metres.

It exported 51.4 billion cubic metres in 2018.

Algeria derives 95% of its foreign revenue from oil and gas sales.

Attar has also said that an international tender for exploration will be launched in the beginning of 2021, hoping that it will attract foreign investors.

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.