Guitouni: “Exploitation Of Shale Gas Is Designed To Ensure Algeria’s Energy Independence”

Energy Minister Mustapha Guitouni said that ensuring Algeria’s energy independence requires encouraging exploration and knowledge of the national potentialities in terms of shale gas. He added that the relevant prospecting endeavor will take several years but one must brace for it beforehand.

 “The interests of the Algerian people will be duly ensured and the Algerians will be reassured about the steady technological progress that is being achieved in the shale gas sector, citing for that matter the other countries that have been successfully  engaging in this field,” Minister Mustapha Guitouni said during a seminar organized by the national Sonatrach Group about its future strategy at the International conference Center in the capital Algiers .

He explained that the Algerians will be duly briefed on how the fossil fuels will be turned upside down as well as on prices and markets, while ensuring full respect for the environment, health and security of the local populations.

The Minister of Energy said that these transformations, especially regarding the shale gas revolution, forced Sonatrach to adopt an aggressive commercial policy so as to defend its shares in the market and to find other fruitful markets worldwide, notably with the advent of the so-called free gas market in particular.

On the other hand, Mr. Guitouni also stated that Sonatrach’s debts to the Public Treasury will be gradually cleared, allowing the national hydrocarbons company to finance its own investments and its own resources.

Minister Mustapha Guitouni further reiterated to journalists on the sidelines of this timely seminar that the projected revamping of the country’s hydrocarbons law would not affect the sovereignty-related issues, including the 51/49 investment rule, in a bid, he argued, to adapt to the ongoing world energy juncture and to tally with the current reality of the international market in order to attract foreign energy companies to Algeria.