H.E. Mohamed Arkab is set to lead a comprehensive discussion focused on Algeria’s energy and mining potential, and its crucial role in the global energy sector during African Energy Week 2023
Since his appointment as Minister of Energy and Mines in February 2021, H.E. Arkab has been instrumental in making significant strides towards developing Algeria’s energy sector. Despite Algeria’s reputation as a fierce competitor among the African energy giants, the minister is determined to further expand the sector to create an energy mix that will benefit both the country and the continent.
On the oil front, the North African country is home to vast reserves of energy and mineral resources, with its strategic location and resource abundance making it a significant player in the global energy landscape. With production measured at 970,000 barrels per day, Algeria was the third largest oil producer in Africa in 2022 and possesses over 12 billion barrels of proven oil reserves. With this resource base, the country is looking at scaling up exploration and production further so as to enhance its position as a significant player in the global market.
On the gas front, Algeria has made remarkable strides, particularly in the development of its liquefied natural gas (LNG) industry. With its considerable investments in expanding its LNG capacity, Algeria is now recognized as the fifth-largest global exporter of LNG. The country’s strategic location near Europe and its well-established gas pipeline infrastructure make it an ideal hub for LNG exports. Nevertheless, Algeria still requires significant investments in this sector to unlock its full potential and further enhance its local and global profitability. Against this backdrop, H.E. Arkab is poised to lead discussions at AEW 2023 on the progress of the country’s LNG sector and to address any challenges faced in the industry as the Ministry continues to focus on its LNG production.
Additionally, the Gas Exporting Countries Forum (GECF) chose Algeria as the site of its Gas Research Institute (GRI) headquarters, where member countries can collaborate on innovative gas technology research and development to improve operations throughout the gas value chain. The GRI will function as a technology cooperation platform and a means to establish partnerships with research centers and universities within member countries and beyond. The country’s decision to host the GRI was largely due to its gas exports reaching a record 56 billion cubic meters in 2022 and its ongoing advancements in this vital industry.
Meanwhile, Algeria boasts abundant reserves of minerals, ranging from iron ore to zinc, lead and phosphate. The country is currently engaged in an active pursuit of developing its mining industry, with a particular emphasis on value addition and beneficiation. At AEW 2023, the Minister of Energy and Mines will seize the occasion to offer a comprehensive account of the latest mining activities taking place in Algeria and entice prospective investors into the mining sector, which holds great promise for the country’s economic growth.
“H.E. Mohamed Arkab’s discussion on Algeria’s energy and mining potential comes at a crucial time when the country is implementing significant reforms aimed at boosting production and attracting foreign investment. The discourse promises to shed light on Algeria’s regulatory landscape, investment opportunities, and the country’s strategic importance in the global energy and mining sectors. Investors and stakeholders keen on tapping into Algeria’s vast energy and mineral resources will undoubtedly benefit from this discussion,” states NJ Ayuk, Executive Chairman of the AEC.
H.E. Arkab will take the lead in an extensive discussion at AEW 2023 revolving around Algeria’s energy prospects and why these prospects remain essential in positioning Algeria as a major producer and exporter. The discussion promises to be a stimulating and informative conversation, as it will cover various aspects of Algeria’s energy sector and the impact it has regionally and globally.
African Energy Week (AEW)