Algerian Minister of Energy and Mines to QNA: Looking Forward to Enhancing Partnership With Qatar
Algiers, February 27 (QNA) - HE the Algerian Minister of Energy and Mines Mohamed Arkab emphasized the strength of the bilateral relations between his country and Qatar in various fields, especially in the energy and mining sectors. He expressed his keenness to enhance and intensify joint projects, citing the example of the Bellara Steel Complex.
In his interview with Qatar News Agency (QNA), the Algerian Minister noted that the 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum will be a summit of major challenges due to the significant circumstances and changes at the regional and international levels.
Regionally, the gas sector has witnessed broad developments and crises, particularly in Europe and the Middle East, posing significant challenges in supply and demand management, His Excellency added.
Internationally, he said that the Summit will face challenges such as the repercussions of the COVID crisis and adapting to the goals of the Paris Climate Accords, especially with the raising pressure to accelerate climate dialogue and limit the use of fossil fuels.
Energy security and geopolitical tensions will be at the top of the Summit's priorities, he said, noting that the agenda highlights major challenges at both regional and international levels.
HE the Algerian Minister of Energy and Mines highlighted the growing role of natural gas in the global energy mix, underscoring the importance of detailed discussions and collaboration among gas-exporting countries to ensure the success of the energy transition.
In general, he viewed the 7th Gas Exporting Countries Forum as a crucial opportunity to discuss major energy issues and work towards consensus to face the complex challenges in our current world.
He highlighted the significance of the event hosted by Algeria, particularly in light of the outcomes of the COP28 UN Climate Change Conference, which recommended phasing out fossil fuels.
Additionally, he pointed to the discussions about global expectations in the field of energy sources, in light of the escalating geopolitical crises that underscore the importance of energy security and the role entrusted to natural gas in the global energy mix in the coming decades.
He noted that the convening of the 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum in Algeria represents a strategic event of utmost importance in the energy sector since natural gas plays an increasingly vital role in the global energy mix, providing significant solutions for a successful transition towards environmentally less polluting technologies.
He added that the Algerian authorities have provided all the necessary resources and created the suitable conditions for all delegations, organizations, and official entities, pointing out that Algeria expects the Summit to be successful on all levels, both in terms of organization and record participation.
HE the Algerian Minister of Energy and Mines Mohamed Arkab said that the 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum, hosted by Algeria early next month, will witness the inauguration of the Gas Research Institute (GRI), which is the scientific and research arm of the Forum.
As for the Summit's key topics, the Algerian Energy Minister explained that one of the prominent issues will be to enhance mutual cooperation among major producing countries to ensure the stability of global gas markets, as well as address the challenges that may confront the demand for this clean energy source in the coming stages.
He added that the Summit's discussions will examine mechanisms for collaboration between producing and consuming countries to ensure global energy security, in addition to the importance of securing supply and demand, serving common interests through long-term trade agreements, and enhancing joint efforts in investment and financing for future projects.
One of the major issues that will receive attention is how the gas-producing countries can keep pace with the global transition towards sustainable energy sources, he said, explaining that this could be done through emphasizing the positive role that natural gas will play in the energy transition, as well as the necessity of protecting global gas markets from interventions and regulatory frameworks that could favor one party over another, potentially harming market stability and security in the medium and long term.
His Excellency highlighted the Forum's role in bridging viewpoints among member countries regarding the various challenges and opportunities facing the gas industry.
Through discussions and dialogues, the Forum has contributed to studying complex issues and addressing concerns in the gas industry, ultimately securing the interests of producers.
Established in 2001, the Gas Exporting Countries Forum is one of the most important regional organizations that brings together the largest natural gas-producing and exporting countries globally. Since its inception, the Forum has garnered significant attention from countries due to its effective role in promoting cooperation in the gas sector.
The Forum has facilitated the exchange of data and technical and legislative information related to the gas sector, contributing to building a shared understanding of challenges and outlining a roadmap for future cooperation that serves the gas industry.
HE the Algerian Minister of Energy and Mines Mohamed Arkab told QNA that among the Gas Exporting Countries Forum's indicators of success is the increasing number of natural gas-producing countries seeking to join, pointing out that the Forum has become a focus of interest for countries with significant gas reserves worldwide, with many countries seeking to obtain "observer" status.
HE further mentioned that other countries have applied to become full-fledged Forum members, reflecting these countries' desire to benefit from the opportunities and advantages provided by the GECF to its member countries.
Regarding the status of the GECF compared to similar organizations like the Organization of the Petroleum Exporting Countries (OPEC), HE the Algerian Minister explained that the aim of establishing the GECF is to create a space for consultation and discussion to enhance the position of natural gas in the global energy mix. All members work together to promote mutual cooperation to demonstrate the positive role that gas will play in sustainable development and consultation for market stability to serve the interests of producers and consumers.
Responding to a question about the future of gas as one of the most important sources of energy in energy transition, Arkab considered natural gas as "a clean and essential source to achieve sustainable development" that facilitates the gradual shift.
All studies indicate that natural gas will continue to play a significant role in the global energy mix for several decades to come. In this context, Algeria will seek to enhance partnerships among countries to reduce greenhouse gas emissions associated with gas and contribute to sustainable solutions for future energy, HE added.
HE the Algerian Minister of Energy and Mines emphasized the country's position as the largest producer and supplier of Liquefied Natural Gas (LNG) in Africa. Since the late 60s, Algeria has been one of the pioneers in natural gas exploration. The country has significant natural gas reserves and the capability to explore additional sources to expand its stocks and reserves.
Additionally, the Algerian government places great importance on the development of the gas sector by developing and expanding the infrastructure for its production, transportation, and liquefaction. Significant investments have been allocated for the development of gas infrastructure through 2023-2028, with a large portion dedicated to exploration and production to increase output to meet domestic demand and contribute to supplying the global market, HE said.
At the conclusion of his remarks, HE affirmed that Algeria's strategic geographic location makes it a vital supplier of gas to Europe via gas pipelines and ships, highlighting this advantage as it is one of the highest gas consumption regions in the world. (QNA)
