Arkab in a discussion session on the sidelines of the symposium “North Africa – Connecting Continents and Creating Opportunities” – New Algeria

The Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, participated, Thursday, in Algiers, in a ministerial discussion session entitled: “Employing the energy sector – a basis for deepening economic integration,” on the sidelines of the symposium organized by the Bank of Algeria in cooperation with the International Monetary Fund, under the title: “North Africa – Connecting the Continents and Creating Opportunities.”

This session was devoted to discussing the reality and prospects of trade exchanges in the field of energy between North Africa, Europe, and sub-Saharan Africa, and the pivotal role that the energy sector can play in promoting regional economic integration, supporting sustainable development, and achieving energy security.

During his intervention, the Minister of State highlighted that Algeria has a strategic geographic location and significant potential in the field of hydrocarbons and mining resources, in addition to important qualifications in the field of new and renewable energies, which qualifies it to play a pivotal role in meeting energy needs locally and regionally, and to strengthen its position as a major actor on the international energy scene, especially in Africa and the Mediterranean basin.

The Minister of State explained that the national strategy in the field of energy is based on a clear vision that aims to make energy a lever for national development, economic diversification, and enhancing Algeria’s international radiation, through developing natural resources to meet internal demand, financing the energy transition, valuing fuel and mining products, and maintaining an export level that guarantees financing of the national economy, in addition to strengthening Algeria’s position in the regional and global energy markets.

In this context, Arkab stressed that Algeria continues to play its role as a reliable and sustainable energy supplier, especially for the benefit of its European partners, recalling that Algeria is classified among the seven largest gas exporters in the world, first in Africa, and third in the European market. He also pointed out that Algeria has developed significant capabilities along the value chain of the hydrocarbon industry, ensuring safe and regular supply to its customers, even in light of complex geopolitical and economic contexts.

The Minister of State also touched on structural projects with a regional dimension, most notably the Trans-Saharan Gas Pipeline Project (TSGP), which aims to enhance African energy integration, support the economic development of the countries concerned, and enable African gas to reach European markets, taking advantage of the advanced infrastructure that Algeria has.

In the same context, he highlighted the importance of North-South electrical interconnection projects, as well as future energy interconnection projects, such as the SouthH2 Corridor project and the Medlink project, aimed at supporting the energy transition and strengthening the connection between Africa and Europe.

Speaking about the challenges, the Minister of State stressed that the differences in levels of energy integration between North Africa, Europe, and Sub-Saharan Africa still exist, as a result of limited cross-border infrastructure, varying regulatory frameworks, and financing difficulties, which requires strengthening regional cooperation, developing innovative financing mechanisms, and achieving gradual convergence in legal and regulatory frameworks.

At the conclusion of his intervention, the Minister of State stressed that the convergence between the requirements of the European energy transition and the increasing energy needs of Africa opens broad horizons for reshaping new regional energy flows, based on balanced partnership, technology transfer, and developing local value chains, while preserving the strategic role of natural gas as a reliable, low-carbon transitional energy.

Arkab renewed Algeria’s readiness to share its technical and institutional expertise with African countries, and to support training programs, knowledge transfer, and capacity building, in a way that enhances continental energy integration and contributes to achieving common development goals and the African Union’s Agenda 2063.

It is noteworthy that the minister participated in the symposium alongside a number of ministers and officials from other countries, and in the presence of the President and Director General of the Sonatrach Complex, Noureddine Daoudi, and the Head of the National Agency for the Valuation of Fuel Resources, Samir Bakhti, and executives from the Ministry.