Attar: “We’ll Renew Contracts Flexibly And Eat Bread From Gas Exports Until Year 2050”

The former Sonatrach CEO and deputy chairman of the Algerian gas industry, Mr. Abdelmadjid Attar, says he expects the world gas prices to stabilize in the coming five years and thus be free of any damaging crisis.

 He also predicted that Algeria would be able to renew its gas contracts, which will wrap up by the year 2020, in accordance with negotiations to be flexibly initiated by the Sonatrach Group with on focus the conclusion of medium-term agreements.

He also stressed that Algeria will have an important place in the soon-to-be-established gathering of gas exporting countries, which will be equivalent to the OPEC  organization of oil producing and exporting countries due to its huge reserves, which will include natural gas. 

“Algerian stockpiles will be sufficient to conclude supply contracts with European countries, along the Mediterranean basin up to Turkey until 2050, he asserted.

Mr. Attar said in a statement to “Echorouk” that Algeria is no longer one of OPEC’s two major rapporteurs due to its small production within the cartel. 

“If Algeria had previously been able to have its say forcefully “and hit on the table” at the Vienna OPEC meetings, and this was due to its potent political positions, but the situation is quite different nowadays because of the much higher production of other OPEC member states”, he explained.

Our interlocutor further underlined that the future for the Algerian energy market is gas, since this energy won’t be hostage to climate and natural conditions such as renewable energies including wind and sun, stressing to this effect that Algeria will be able to cover the demands of its customers without problems until the year 2050.