Minister Arkab Launches 12th Edition of NAPEC 2024, Highlighting Algeria’s Energy Sector Prospects
BY: Dr. Hana Saada
Algiers, Algeria | October 14th, 2024 — On Monday, Minister of Energy and Mines, Mohamed Arkab, inaugurated the 12th edition of the North Africa and Mediterranean Hydrogen and Energy Conference (NAPEC 2024), a significant platform for investors in the energy and hydrogen sectors. During his opening remarks, Arkab emphasized the conference’s role in showcasing the latest global technologies, products, and services in these fields.
Minister Arkab highlighted Algeria’s commitment to adapting to the international context, underscoring the growing demand for energy and the essential role of these efforts in supporting the country’s social and economic development. He noted that maintaining acceptable levels of hydrocarbon revenues is crucial for this development trajectory.
The minister asserted that pursuing an energy transition policy does not entail abandoning fossil fuels, particularly natural gas, which he described as a fundamental fuel to accompany the global energy transition. He also pointed out Algeria’s extensive efforts in research and exploration, aimed at expanding its reserves, increasing production capacity, and improving the recovery rate of oil and gas resources.
Additionally, Arkab stressed the importance of enhancing and developing the petrochemical industry, particularly in the fertilizer sector, to support food security in Algeria and other African nations.
In terms of investment, the minister announced Algeria’s plans to implement substantial investments in the energy sector from 2024 to 2028, focusing on projects to boost production capacities and transform hydrocarbons. He highlighted the necessity of technological and technical support through partnerships and contractual agreements in line with the Hydrocarbons Law.
Moreover, Arkab revealed that the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) would soon announce its first tender under the title “Algeria Bid Round 2024,” representing a significant step toward attracting foreign investments in the development of the hydrocarbons sector.
The minister also announced the signing of several important memoranda of understanding, which will facilitate feasibility studies for the “SoutH2 Corridor” hydrogen pipeline project. This ambitious initiative aims to connect Algeria with Europe through Tunisia, extending to Germany, Italy, and Austria.
As Algeria positions itself at the forefront of the energy transition, NAPEC 2024 serves as a crucial venue for fostering investment, technological innovation, and collaboration in the energy sector.
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