Sonatrach to Invest More than $73b By 2020

Sonatrach to Invest More than $73b By 2020

Algerian national hydrocarbons company Sonatrach plans to invest more than $73b by 2020, being two thirds of that amount for exploration and production, according to the Minister of Energy, Salah Khebr, Algeria Press Service reported.

In his statement at the opening of the first Algeria-European Union forum on energy Khebri said that “This indicates Algeria’s willingness to maintain the necessary production to satisfy domestic demand, which is in constant growth.”

According to All Africa, Khebri explained that Algeria’s achievements in hydrocarbon will required major investments, whose cumulative amounts between 2000 and 2015 reached $100b carried out by Sonatrach and its partners.

Regarding Algeria’s capacities in gas exports, it reached nearly 90bm3/year, 50m3/year of which via the three gas pipelines devoted to Europe, while the rest is made of liquefied natural gas (LNG). Algeria supplied a total of 1,500bm3 as LNG and through gas pipelines, Khebri added.


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