Algeria Ranks 7th Among World’s Largest Natural Gas Exporters in 2023

✏️ BY: Dr. Hana Saada

Algiers, Algeria | August 31st, 2024 —  Algeria has solidified its status as a critical player in the global energy sector, securing the 7th position among the world’s largest natural gas exporters in 2023. This achievement underscores Algeria’s strategic importance in the international energy landscape, as the country continues to expand its influence and solidify its role as a reliable supplier in a complex and volatile market.

According to the International Gas Union’s (IGU) “Global Gas Report 2024,” Algeria exported an impressive 52 billion cubic meters (bcm) of natural gas in 2023. This volume, which includes 18 bcm of Liquefied Natural Gas (LNG) and 34 bcm delivered via pipelines, positions Algeria just behind energy giants, such as Russia, Qatar, the United States, Norway, Australia, and Canada, whose exports are 139 bcm, 128 bcm, 127 bcm, 120 bcm, 110 bcm, and 53 bcm respectively. The report, developed in collaboration with Italy’s natural gas transmission operator Snam and the energy research firm Rystad Energy, highlights Algeria’s robust performance amidst global competition.

Algeria’s influence is particularly evident in the Spanish energy market, where it dominated as the leading gas supplier with a significant 45.2% market share in June 2023. This achievement not only underscores Algeria’s role as a crucial energy partner for Southern Europe but also emphasizes its strategic significance in maintaining regional energy security. Even with a general downturn in European energy demand due to milder seasonal needs and reduced industrial consumption, Algeria’s consistent supply to Spain reaffirms its reliability and the strength of its long-standing energy ties with the region.

Global Energy Dynamics and the Rising Importance of LNG

The IGU report also sheds light on the evolving dynamics of the global natural gas market, with the Liquefied Natural Gas (LNG) trade reaching a remarkable 537 bcm in 2023. This figure highlights LNG’s growing role in global energy security, particularly in a world increasingly concerned with supply stability and geopolitical uncertainties.

The United States has taken the lead as the world’s largest net exporter of LNG, with an export volume of 117 bcm in 2023, surpassing traditional heavyweights like Australia and Qatar. This shift illustrates the changing power dynamics in international energy markets and the pivotal role of LNG in the global energy mix. Meanwhile, China has emerged as the world’s largest importer of natural gas, with an import volume of 160 bcm in 2023, followed by Japan (91 bcm) and Germany (77 bcm). This trend underscores Asia’s growing dependence on imported energy to meet its rising demand, a pattern likely to continue in the coming years.

Strategic Investment Imperatives Amid Global Energy Challenges

While Algeria’s achievements in the natural gas sector are commendable, the IGU report also highlights significant challenges facing the global energy industry. The report warns of a fragile equilibrium in global gas markets, where increasing demand, projected to grow by 1.5% in 2023 and 2.1% by 2024, is met with limited supply growth. This imbalance presents considerable risks to global energy security, particularly if substantial investments in conventional gas infrastructure and clean energy technologies are not made.

The report issues a stark warning about a potential severe shortfall in global gas supply by 2030 if current trends continue. It estimates that without the development of additional production capacity, the world could face a 22% deficit in gas supply, a scenario that would have profound implications for global energy security and economic stability. To avert this crisis, the report advocates for urgent and significant investments in natural gas production, along with accelerated development of technologies like biomethane, carbon capture and storage (CCS), and low-carbon hydrogen.

Algeria, with its abundant natural gas resources, is well-positioned to address these global challenges. By leveraging its strategic advantages and investing in advanced energy technologies, Algeria can not only secure its status as a leading global energy supplier but also contribute to the global transition towards a more sustainable and resilient energy future. The report emphasizes that natural gas, with its potential to reduce CO2 emissions by up to 50% in the short term, offers an immediate and cost-effective solution for mitigating climate change, provided that the necessary investments are made to ensure its continued availability and sustainability.

In this context, Algeria’s leadership in the global energy sector is not just a matter of national pride; it is a crucial component of the broader global effort to ensure energy security and meet international goals for carbon reduction and sustainable energy transition.

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