The European Council has approved a strategic energy agreement between Algeria and EU-27 which will open a new era of cooperation between the two partners.
On 15 April, the EC gave the Member States the go-ahead to conclude this agreement with Algeria.
The agreement will be then ratified by the European Parliament and signed in Algiers before the holy month of Ramadan at the latest, during a visit of the European Commissioner for Energy Günther Oettinger.
Announced for early 2013, the signing of the agreement has been delayed due to the complexity of EU approval procedures.
This partnership will give a new momentum to Algeria-EU energy cooperation and will open new prospects in Algeria for the development of conventional, new and renewable energies, petro-chemistry and transformation of hydrocarbons in general.
It will also allow boosting energy investments (something that Algeria is eager to achieve) and promoting transfer of technology and the launch of conventional and non-conventional energies.
As a major EU energy supplier, Algeria covers between 13 and 15 percent of European gas consumption.
Through this agreement, Algeria has defended a new inflow of foreign investment into its energy sector through both upstream and downstream partnerships, while the European Union, which already has similar agreements with Russia and Qatar, will be able to secure its energy supplies.
Algeria remains among Europe’s few reliable energy suppliers.
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