Algeria:Algeria is ready to increase gas supplies to France amid the risk of a “strained” winter in Eur ope, the Europe1 radio reported on Sunday, citing sources. French President Emmanuel Macron came to Algeria with an official visit on August 25-27. During Macron’s visit to the country, French energy company Engie CEO Catherine MacGregor also met with Algerian Minister of Energy. Condensate gas is natural gas that contains liquid hydrocarbons in suspension, similar to crude oil, which greatly increases its value. “These volumes constitute one of the largest revaluations of reserves in the last 20 years,” the oil group added.
Sonatrach plans to start production in November from the field, which is expected to produce 10 million cubic metres per day.
Algeria, whose proven natural gas reserves amount to nearly 2.4 trillion m3, supplies about 11% of the gas consumed in Europe, compared to 47% for Russia. It is Africa’s leading exporter of natural gas and the 7th largest in the world.
Several countries seeking to reduce their dependence on Russian supplies since the invasion of Ukraine have turned to Algeria. In April, Italy signed a major agreement with Algeria on increased gas supplies.
