Piebalgs discusses EU-Algeria energy relations
Commissioner Piebalgs discusses EU-Algeria energy relations at the Third Algeria Energy Week in Oran
Brussels, Belgium – Energy Commissioner Andris Piebalgs will visit Algeria on 2006-11- 25 and 2006-11-26 on the occasion of the Third Algeria Energy Week. The Commissioner will meet with the Minister of Energy and Mines, Dr. Chakib Khelil to discuss EU-Algeria bilateral energy relations and strategic energy partnership, including planned pipeline projects that can double Algeria’s gas exports to Europe by 2010.
Ahead of his visit the Commissioner said: “The EU wants a new strategic partnership with Algeria in the energy field. Algeria is an important player in the world energy market with significant gas and oil resources and a key partner for the EU in the Mediterranean basin. Moreover, the EU remains Algeria’s main export market for energy products, which is a good basis for strengthening our cooperation further".
The new hydrocarbons (oil and gas) law in Algeria and the promotion of transparent and stable market conditions for investment in the country’s blooming energy sector will figure prominently in the discussions. Algeria needs to undertake massive investments in order to respond to increasing export and domestic needs, which can also represent interesting opportunities for foreign involvement in the sector.
The Commissioner will also participate as a keynote speaker at the "International Strategic Conference on Investment Opportunities in Algeria’s Energy Sector" organised by the Algerian Ministry of Energy and visit the Algeria Oil and Gas Exhibition, where he will also meet with representatives of European companies. The discussion will revolve around business prospects and the impact of new rules in Algeria’s hydrocarbons’ sector on foreign investment.