Algeria is preparing to take a new step in its energy cooperation with Russia. According to Rachid Nadilthe director general of the Hydrocarbons Regulatory Agency, a partnership agreement with the Russian giant Gazprom is about to be finalized. This agreement concerns the development of a new gas field.
During the “Russian Energy Week” in Moscow, Nadil highlighted the importance of this partnership and the significant progress made in the negotiations. This partnership is part of a context of energy cooperation already solid between the two countries.
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Algeria already uses a lot of Russian equipment in its oil installations and has aligned itself with Russian standards to facilitate trade. “We use lots of Russian equipment in our facilities oil companies and we are practically ready as far as Russian norms and standards to be able to import equipment,” Rachid Nadil said in an interview with Russia Today.
Gazprom and Algeria: A win-win partnership to strengthen energy security
This new partnership with Gazprom marks an important step in the development of the Algerian gas sector. THE new gas field should not only strengthen national production and cover local needs, but also increase Algerian gas exports to international markets.
“This field is very important, otherwise Gazprom would not have engaged in this project,” underlined the general director.
It is important to remember that last June, on the sidelines of the St. Petersburg International Economic ForumRachid Nadil spoke with Sergey Tomanovgeneral director of Gazprom.
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This meeting provided an opportunity to discuss Gazprom’s investments in Algeria and future relations with the Hydrocarbons Regulatory Authority. Exchanges between the two leaders had already highlighted the mutual interest in strengthening energy cooperation.
This cooperation between Algeria and Russia is part of a dynamic of strengthening economic ties between the two countries. The partnership with Gazprom, one of the largest energy companies in the worlddemonstrates the attractiveness of Algeria as an investment destination in the energy sector.
For Algeria, this project represents an opportunity to diversify your sources of income and of strengthen its position on the global gas market.
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In summary, the agreement currently being finalized between Algeria and Gazprom opens new perspectives for the development of the Algerian gas sector and marks an important step in energy cooperation between the two countries.
