FRANCE RELAUNCHES ITS RELATIONS WITH ALGERIA
4 October, 2022
ALGERIAN GENERAL STATE BUDGET 2023.
26 October, 2022
The Algerian public group SONATRACH has signed two major contracts in the energy sector with Italian companies.
The first, for an amount of € 400 million with TECNIMONT for gas extraction in the Algerian Sahara with a treatment capacity estimated at 10 million m3 / day in the hydrocarbon field of Rhourd el Raguel, in Hassi Messaoud, with a completion period of 36 months.
The second, for an amount of € 171 million, with the also Italian ARKAD, for the realization of a gas compression unit with a production period of 34 months and a capacity of 11 million m3 / day.
With these investments, the Algerian public group aims to increase its market share of European gas, which now accounts for 11% compared to 43% taken by Russia. Italy thus displaces Spain as the first European customer of Algerian gas and loses its position as distributor of this in the continent, in the line of loss of influence in the European energy market that has consolidated the definitive loss of the MID-CAT gas pipeline due to the opposition of France.