Economy

Arkab: Algeria examines with its customers ways to “adapt to current changes” in gas market

The Minister of Energy and Mines, Mohamed Arkab, affirmed, Monday in Algiers, that Algeria is negotiating, through the national hydrocarbon group Sonatrach, with its customers on ways to adapt to the current changes in the gas market.

“We are examining with our customers how to adapt to market changes,” Arkab said during a press conference on the sidelines of a tripartite regional meeting between the Electricity and Gas Control Committee, consumer protection associations and energy directorates.

The minister’s statement came after the rise in energy prices, especially natural gas prices in Europe, which experts attribute to the preference of many European countries for short-term contracts to obtain gas instead of long-term contracts.

Arkab went on to say, “There is a great change taking place in the oil and gas market in particular, which prompted Sonatrach to open a discussion with its customers, but I assure you that Algeria, through Sonatrach, always remains faithful to its contractual obligations.”

Meanwhile, Arkab explained that the aim of organizing this meeting is to bring the consumer closer to the Algerian Electricity and Gas Distribution Company in order to present and develop this public service so that it “fits with the requirements of the consumer and economic operators.”

The minister also reiterated his emphasis on “maintaining energy prices” in the internal market, highlighting the importance of the national program to connect remote areas, the first part of which was completed at 60 percent.

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