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FINANCIAL NEWS
Algerian gas exports to jump 50% by 2015
18 Apr 2010
(MENAFN) Algerian Minister of Mining and Energy Chekib Khelil said that the country’s natural gas exports will increase by over 50 percent in the next five years, Kuna reported.
Algeria’s scheme to boost its natural gas exports will start in mid-2010 and is set to reach 85 billion cubic meters by 2015, he said in a statement.
Algeria’s natural gas exports will be strengthened following the operation of the third MedGaz pipeline, said Khelil. This pipeline will have a capacity of eight million cubic metes by next July.
MedGaz is a submarine natural gas pipeline between Algeria and Spain.
Algeria is also working on completion of a natural gas pipeline with Italy via Tunisia in a projected named Trans-Mediterranean Pipeline (TransMed).
Galsi, another natural gas pipeline, will directly link Algeria with Italy.
Another pipeline will be linking Nigeria with Europe via Algeria. This project will allow export of 20-30 billion cubic meters of natural gas to Europe every year.
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