Guitouni calls on world’s energy leaders to invest in Algerian energy sector

October 12th, 2018

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APS : Thursday, 11 October 2018

ALGIERS- Minister of Energy Mustapha Guitouni called on Thursday, in Milan, the world’s energy leaders to invest in the Algerian upstream oil and gas sector as well as in petrochemistry and processing industries,
said the ministry in a communiqué.
In the summit of the world’s energy leaders, held in Milan on the sidelines of the holding of the World Energy Week, Guitouni held several meetings with the leaders of the energy community.
He broached with them issues defining the new energy card of the world as well as current and future positioning of major energy and oil companies in terms of conversions, new innovations and opportunities, said the source.
In this regard, the minister broached in his different discussions the importance of energy transition policies and particularly regional integration policies.
He underlined that the governance of the energy sector is marked by a great regional integration which takes into consideration climate changes, the impact of alternative and renewable energy sources and correlatively the security of energy supply.
Citing the Algerian experience, the minister pointed out that the country’s priority remains the economic and social development within the framework of a long-term vision.
This justifies, among other prospects, Algeria’s ambitions to start resolutely, at the behest of President of the Republic Abdelaziz Bouteflika, “an efficient energy transition with the construction by 2030-2035 of renewable energy installations with a total capacity of 22,000 MW,” said the source.
Guitouni described “the successful experience of the first phase of the execution of the national plan of renewable energy and of energy efficiency by integrating into the Algerian electric system with a capacity of 400MW in solar and wind.”