Petroleum Africa
Find us on: 
Thursday, November 11, 2021
On the sidelines of NAPEC 2021, Sonatrach Group CEO Toufik Hekkar addressed the press regarding the country’s capacity to meet Spain’s demand for Algerian natural gas. Hakkar assured that the capacity to export natural gas to Spain via the Medgaz pipeline is more than sufficient to meet current demand.
Hakkar stated that Medgaz “currently ensures the entire volume of Algerian natural gas exports to Spain, fixed under long-term contracts.” The CEO also said in the eventuality Spain required additional volumes “We will talk about the means necessary to meet additional needs only when there is an additional demand,” whether through the pipeline or LNG carriers.
During his opening speech at the 10th NAPEC exhibition, Hekkar elaborated on the new hydrocarbon law, indicating that it gives enough flexibility to attract new partners and is able to provide the necessary financing and technology to maximize the valuation of the country’s hydrocarbon resources.
“Our discussions with our foreign partners within the framework of this new law, will allow us to broaden our level of investment, to share the risks and to access the technology necessary to discover and develop complex deposits,” he said.
Hekkar also stated that Algeria “has opted for partnership” in order to develop world-scale petrochemical projects aimed at enhancing the available raw materials and creating a national fabric of processing industry, SMIs and SMEs. This will help reduce the import of processed petroleum products and export surpluses of these products
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
