EU and Algeria to cooperate on energy
Tuesday, 5 May, 2015
The EU and Algeria have launched a political dialogue on
energy matters . Meeting in Algiers on 5 May 2015, Miguel Arias Cañete,
European Commissioner for Climate Action and Energy, and Yousef Yousfi,
Minister for Energy and Mines of Algeria, agreed to cooperate on natural gas,
renewable energy, energy efficiency, energy market integration and
infrastructure development.
The cooperation follows the establishment of a strategic
energy partnership in 2013.
“Algeria is a partner of crucial importance to the EU.
The launch of an energy dialogue in Algiers today will contribute to a
reinforcement of our bilateral cooperation in the new context of energy
security,” Arias Cañete said.
Two ‘groups of experts’ – one on natural gas and the other
on electricity, renewables and energy efficiency – will be created. In
addition, a business forum will be set-up with the first meeting scheduled for
2016 in Algiers.
Algeria is third biggest supplier of gas to the EU, and the
EU is the biggest importer of Algerian gas. However, due to a lack of new
investment, gas production in the country is declining and large reserves of
gas remain unexploited. Enhanced political links on energy could boost
investments in Algerian gas with the knock-on effect of improving Europe’s
energy security.
Meanwhile, the EU has agreed to share its renewable energy
and energy efficiency expertise in support of Algeria’s goal to reach 22
Gigawatts of renewable power by 2030 and a 9% reduction in energy consumption.