Complementary Insight Into Algeria's Energy Potential With This Exclusive Interview, Courtesy Of The Algeria Future Energy Conference
Must-read insight into the current energy market in Algeria and its future prospects as Algeria Future Energy interviews Nordine Ait-Laoussine, President, Nalcosa SA, and former Minister of Energy & Mines, Algeria.
- (1888PressRelease) August 24, 2012 - The CWC Group is grateful to Nordine Ait-Laoussine for exclusively answering questions about the Algeria Future Energy conference, and the future of oil & gas, unconventionals and renewables in Algeria. Read the full interview below, as the former Algerian Minister of Energy & Mines provides a must-read insight into the current energy market in Algeria and its future prospects:
Q What do you see as the main growth areas for the Algerian energy sector over the next 5 years?
The government's current strategic plan is to increase the country's declining resource base. This will require the intensification of E&P investment in both conventional and non-conventional hydrocarbon development in mature areas as well as in virtually unexplored onshore and offshore regions. Sonatrach alone has earmarked for this sector around $ 65 billions, i.e. 80%, of its 2012-2016 investment budget.
Q There has been a lot of interest in Algeria's shale gas potential-do you think Algeria can replicate the success of the shale industry in the United States?
The country's gas shale potential is very promising and perhaps as large as the remaining recoverable conventional gas reserves. Replicating the US shale industry success should only be seen at this stage as a long-term objective. The achievement of such objective would require IOCs' technological transfer and a favorable regulatory and investment framework.
Q What role will foreign companies play in the development of Algeria's renewables industry? And local companies?
The government's strategy is to enlist the support of experienced foreign companies to launch and sustain an ambitious program of renewable energy development in which solar energy will constitute a major component. Partnerships with IOCs may require a specific business model to ensure the development of local companies and their full integration in the industrialization process. Such a model should also consider an adequate fiscal framework as most of the generated power supply will be initially devoted to meeting the growing domestic electricity demand.
Q What makes Algeria an attractive place for foreign companies to invest in at the moment?
That will depend on the specific strategic objectives of the interested companies. For those who seek a source of supply (whether oil, gas or power) Algeria's attractiveness is its proximity to the expanding European market, the quality of its exportable surplus (oil and refined products), the existence of a well developed infrastructure (including transcontinental pipelines and LNG). For those who are more interested in local and domestic opportunities, the country's attractiveness is the existence of a dynamic and growing market, an outlet for their products and equipment and a vibrant and diversified demand for technological transfer.
Q How can Algeria ensure that local businesses and local people gain maximum value from investment into the energy sector?
Simply said, it could be achieved by a combination of the horizontal integration of the IOCs in the country's upstream and the vertical integration of the local or national companies in the overseas' downstream market. Both will contribute to national development, economic diversification and job creation.
Q How do you think the Algeria Future Energy Conference will benefit the energy industry in Algeria?
It will benefit in two ways: exposure of the participants to the latest technlogical developments in energy supply diversification, and attracting and potentially increasing much needed foreign investment.
Q Finally, what about the conference are you most looking forward to?
The conference will be an excellent opportunity to learn more about the strategy, plans and business opportunities of a country whose energy sector is not generally or adequately covered by the international media. It will also be the occasion to meet a large array of Algerian energy executives as well as several managers of international operators with outstanding experience in the conference's overall theme.
For further information visit: http://www.algeria-future-energy.com/
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