Algeria, Sonatrach banking on high energy prices for 2023
To:
Al-Monitor Pro Members
From:
Francisco Serrano
Journalist and analyst specialized in North Africa
Date:
Jan. 4, 2023
Bottom Line:
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.
