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Algeria’s state-run energy company Sonatrach has announced that it will boost its annual gas export to Europe by 10 billion cubic meters.
The announcement was made by Sonatrach’s chief executive, Abelmoumen Ould Kaddouras, during his visit to Medgaz gas pipeline, which is located in Algeria’s western coastal city area of Beni Saf.
Kaddouras explained that the company’s current production capacity amounts to 8 billion cubic meters, stressing that it can be increased by additional two billion cubic meters.
“The Medgaz gas pipeline can produce 10 billion cubic meters of gas through Spain,” he noted, adding that the gas facility will be provided with all the needed equipments to achieve the project.
“The importance of this project is that it will make it possible to recover large quantities of gas and sell them, particularly in the current situation of declining oil prices,” the Algerian official stressed.
“Our new strategy is to sell everything we can sell as gas,” Kaddouras pointed out.
Medgaz is a gas pipeline connecting Algeria’s largest oil field, Hassi Messaoud, with Spain.
Algeria exports gas to Spain and Portugal through a second gas pipeline that passed through Morocco, of which the Moroccan kingdom also benefits form.
There is a third gas pipeline connecting Algeria with Italy through Tunisia known as the Transmed-Enrico Mattei gas pipeline.
Kaddouras also announced about a plan to launch of three new gas fields during the first quarter of the next year.
In 2016, Algeria’s total exports of gas in amounted to 54 billion cubic meters, according to Sonatrach official figures.
Source: Middle East Monitor