Algeria’s state-owned energy company Sonatrach is looking to invest US$56 billion in projects in the next five years, its CEO said after launching a new gas pipeline.
“We will give more details very soon,” Abdelmoumen Ould Kaddour told reporters during a visit to the Hassi Rmel gas field, Reuters reported.
He spoke after launching a new gas pipeline pumping from southwestern fields including Reggane North, Touat and Timimoun with capacity of 8.8 billion cubic metres a year and which cost 88 billion Algerian dinars ($774 million).
“We are so proud of this project because it has been constructed 100 percent by Algerian firms,” Reuters quoted Kaddour as saying.
Separately, Algeria’s Premier Ahmed Ouyahia announced that the country would soon start supplying natural gas to neighbouring Tunisia.
“Algerian gas could supply four Tunisian border regions including Sakiet Sidi Youcef and this could take place towards the end of 2018,” said Ouyahia said according to the country’s news agency Algeria Press Service.