The indicators of the international energy market constitute “a golden opportunity” to produce more gas (CEO of Sonatrach)

Par :| Key words : Algeria-Sonatrach-energy| Updated on 18-11-2022

The CEO of the Algerian oil and gas group Sonatrach, Toufik Hakkar, said on Thursday that the indicators of the international energy market constituted “a golden opportunity” to produce more natural gas and support the energy transition in Europe and in Algeria.

On the sidelines of the inauguration ceremony of a laboratory specializing in solar energy in the Hassi Messaoud region, in partnership with the Italian group Eni, Mr. Hakkar declared: “The energy market, particularly in Europe, is very important in terms of gas demand over the next ten years”. He thus made the link with “the existing potential in conventional and unconventional hydrocarbons in Algeria”.

In this sense, Mr. Hakkar praised “Eni’s strategic decisions to invest in hydrocarbons”, specifying that “investment in oil and gas is strategic, because demand will increase”.

For his part, the CEO of the Eni group, Claudio Descalzi, expressed his company’s confidence in the Algerian market given that it has invested 1.6 billion US dollars in Algeria this year.

Speaking about his country’s supply of natural gas, Mr. Descalzi underlined that Algeria, through Sonatrach, “has been a reliable gas supplier for Italy for many years”.

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