UPDATE - Algeria To Supply 100 Bln Cubic Meters Of Gas To Market Annually For 5 Years - Company

TUNIS (UrduPoint News / Sputnik - 15th March, 2023) Algeria plans to supply to the market at least 100 billion cubic meters of natural gas annually over the next five years, Algerian oil and gas company Sonatrach CEO Toufik Hakkar said Tuesday.

Sonatrach will continue to reliably supply its partners with natural gas "until the demand for gas is guaranteed in the mid- and long term," Hakkar said at a gas conference in Oran, Algeria on Tuesday.

"Algeria intends to supply to the market at least 100 billion cubic meters of natural gas annually over the next five years," he said.

Hakkar also said the company intends to further develop its gas fields in order to supply additional volumes to the national and international markets, including European.

Algerian President Abdelmadjid Tebboune said in December 2022 his country produces 102 billion cubic meters of gas, half of which is consumed domestically. He said Algeria hopes to export 100 billion cubic meters of gas in 2023.

Algeria is one of the ten largest natural gas producers in the world. Sonatrach is engaged in the production, processing, transportation and sale of hydrocarbons and is the largest in Africa.