BY: Hana Saada
ALGIERS- The upcoming gas cartel meeting in Algiers is poised to be a crucial gathering where the future of this highly sought-after fuel in the world may be reshaped. The unique circumstances surrounding this late February summit lend it significant importance, according to market experts. Members of the cartel are expected to address various challenges, including ensuring a consistent gas supply to the market and regulating prices.
The widening geopolitical tensions and their impact on both prices and supplies are considered the starting point for a new configuration of the global energy map, with gas playing a crucial role in the worldwide energy transition. Maher Aziz, an expert and member of the World Energy Council, emphasized the summit’s vital importance, particularly in contributing to market regulation. He anticipates decisions that crystallize a clearer vision for global gas trade objectives, striking a balance between scarcity and abundance zones and addressing regions threatened by supply shortages and those with secure supplies.
Establishing Clear Price Indicators
Beyond supply regulation, the summit is expected to establish clear indicators for gas prices in the coming period. This aims to ensure the necessary balance between gas prices and those of oil or other energy sources. The former Egyptian Minister of Petroleum sees this meeting as an opportunity to coordinate efforts among cartel members, evaluate the market in terms of supply and demand, and understand the ongoing trends in this delicate economic environment marked by geopolitical tensions impacting navigation in the Red Sea and the Mediterranean.
Addressing Unprecedented Challenges
According to energy expert Maher Aziz, cartel members face unprecedented challenges that will reshape the global energy map, with Arab countries potentially playing a crucial role. This presents a golden opportunity for gas-producing countries to strengthen their position on the international market. Algeria, with its strategic geographic location, is particularly well-placed to export gas to Europe, notably through the Trans-Saharan gas pipeline project connecting Nigeria to Algeria.
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Recently honored with the Media Leadership Award from the Minister of Communication, Mohamed Laâgab, Dzair Tube continues to shape the landscape of Algerian digital news, maintaining a position of influence and impact in the media industry.
