THE Maghreb, rich in natural resources, is distinguished by its vast hydrocarbon reserves. This region, known for its considerable energy potential, is attracting international attention, particularly from American giants in the energy sector. Algeriain particular, with its abundant natural gas reserves, positions itself as a key player in global energy dynamics, especially at a time when Europe is seeking to diversify its energy sources following recent geopolitical tensions.
In 2023, the Algerian energy landscape saw major developments with the entry of two American oil giants, ExxonMobil And Chevron. These companies signed strategic agreements for the exploration and development of the Ahnat and Berkine fields, marking their first notable foray into the Algerian market. This expansion came at a critical time when Algeria is seeking to significantly increase its natural gas production to meet the target of 200 billion cubic meters in the medium term, in response to the increase in European demand following the Russian offensive in Ukraine.
There Sonatrach, Algeria’s national oil company, not only concluded these agreements, but also strengthened its collaboration with other international players. In May 2023, a project of $2.3 billion was announced with Baker Hughes and the Italian Tecnimon for the development of the natural gas field of Hassi R’Mel. In addition, a significant contract with Occidental Petroleum, in partnership with Eni and Total Energies, was signed in July 2022 for the development of the Berkine contract area.
To further strengthen its role in the global market, Sonatrach has increased its agreements in 2023 and early 2024, including a partnership with Grain LNG to increase its liquefied natural gas storage and delivery capacities (LNG). Other strategic collaborations, such as increasing gas supplies with the Italian group Eni, and various projects with Italy to improve the transport and liquefaction of natural gas, show that Algeria is committed to using its potential energy to secure an advantageous position in the global energy market.
This new dynamic could lead to an increase in European dependence on Algerian gas, while allowing Algeria to play an even more leading role as a reliable supplier. These developments could also boost the Algerian economy, but raise questions about the sustainability and environmental impact of intensifying hydrocarbon extraction. The management of these natural resources, within a framework of increased international collaboration, therefore defines a potentially promising but complex future for the Maghreb energy sector.
