Algerian Energy Minister Mustapha Guitouni on Monday met with European Union (EU) Ambassador John O’Rourke to discuss ways of boosting cooperation in the energy sector.
The meeting focused on a number of issues, including partnership in hydrocarbon sector, renewable energies, energy efficiency, integration of energy market, technology transfer and local development, Guitouni said in a statement.
The two officials agreed to pursue talks aiming at improving the attractiveness of the Algerian energy market.
According to a report on EU’s foreign policy and security issued in October 2016, the EU considers Algeria a reliable partner in security and energy sectors. Algeria remains a major energy supplier to Europe, as it supplies 14 percent of the EU natural gas needs.
Two years ago, Algeria and EU started permanent political dialogue on energy under the memorandum of understanding on the establishment of a strategic energy partnership signed by the two parties in 2013.
The agreement includes strengthening partnership in the hydrocarbons sector, especially natural gas and renewable energy.
Algeria has earmarked a 73-billion-U.S. dollar budget to boost oil and gas investments by the state-run energy giant Sonatrach between 2016 and 2020.
Algeria’s gas exports have increased to nearly 90 billion m3 / year, of which 50 billion are carried via three pipelines to Europe.