Algeria, Sonatrach banking on high energy prices for 2023

Al-Monitor Pro Members

Francisco Serrano

Journalist and analyst specialized in North Africa

Jan. 4, 2023

For Algeria, high energy prices have meant stronger export revenues, an improved budgetary situation, and renewed interest from foreign investors in upstream development. As Europe attempts to diversify away from Russian hydrocarbons, the strategic value of Algerian energy reserves has increased significantly. But Algeria’s production capacity can rise only gradually. Whether the current boom in energy demand will be sufficient to reverse years of under-investment in Algeria’s energy sector remains to be seen.