Algeria is poised to power up its energy exports with a new electricity pipeline to Europe via Italy, taping into its vast energy reserves amid rising global demand. Over the weekend, Algerian Energy Minister Mohammed Arkab announced the "historical project" during a visit to a facility of Sonelgaz, the state-owned electricity and gas company.
Green hydrogen could be invaluable for both Algeria’s and Europe’s growing energy demands. Algeria’s minister of energy, Mohamed Arkab, has recently unveiled a plan to develop this field, envisaging exports of green hydrogen to Europe from 2030, which should eventually total 10 per cent of Europe’s energy needs.
Algeria’s energy ministry hopes to distinguish itself from other providers and attract investment through its commitment to renewables. Europe therefore has an opportunity to develop a local ally to make Algeria’s energy evolution a green one. Green hydrogen could be invaluable for both Algeria’s and Europe’s growing energy demands.
The market for Algeria Power is expected to register a CAGR of greater than 8.5% in the forecast period of 2020-2025.
Algeria, conversely, is in desperate need of greater and diversified energy sales to bolster revenues, service its international image, and improve the efficiency of its own energy infrastructure to better meet rising domestic demand.
The importance of Algeria as a strategic and reliable partner in the EU energy supply of natural gas has been emphasised and the evolution of European demand and supplies by Algeria has been discussed.