Chakib Khalil : Revenues from hydrocarbons to reach more than USD 43 billion end of 2009

The Minister of Energy and Mines Chakib Khalil asserted Monday that Algeria’s revenues from exports of hydrocarbons will exceed USD 43 billion. 

• Chakib Khalil said, on the sidelines of a forum on energy, that Algeria’s hydrocarbons’ revenues may reach USD 42 to 43 billion or slightly more by the end of 2009, adding that « The expected figures are considerable ».
• This increase in expectations due to the recovery of the world oil prices, currently estimated at USD 70 after i twas  USD 34 end of December 2008 and and beginning of 2009.
• General Manager of Sonatrach, Mohamed Meziane, has asserted recently that the revenues of hydrocarbons has reached about USD 34.5 to the end of October 2009.
• Chakib Khalil pointed out the natural gas in 2009 was charcterized by the development of a new technology by USA in the field of its production, thing which have allowed  for better utilization in the gas fields in Algeria, causing a surplus of supply and decline of the prices in the current market.
• Khalil considered this new technology « surprising for the market thnig which is reflected on the strategy for the gas sales in the global market ».
• «  The decline of the gas prices in the current m       rket will push companies, which signed contracts to buy gas on the long-term, to ensure a part of supply to this type of markets », he says.
• Gas contracts signed on the long-term, determine certain rates aqcuired by the buyer and ranging between the minimum and maximum size determined by the contractors.
• « The buyer can aqcuire the minimum volume of gas in the current market in order to meet his needs and benefits from low gas prices applied in this market. This would lead to lower volumes sold in the framework of long-term contracts ».
• Chakib went on to say that the forum pf gas exporting countries will study this issue during its next meeting scheduled for April 19 in Algiers.
• In response to a question about the project of establishing a public mining company, the minister explains that this entity is under construction and will include several public companies currently active in the field of mining.
• General Manager of Sonelgas, Noureddine Bouterfa, said that the Spanish organization does not allow the producing companies to market their electricity, however, legally it does not represent any obstacles becasue it is totally separated from the producing company.