The new President enters office at a time where gas, Algeria’s biggest foreign export, is under immense pressure from geo-political and market forces. As witnessed in the recent European Gas Conference in Vienna last month, Europe’s gas markets are evolving and becoming more interconnected. The appointment of Toufik Hakkar at the helm will only intensify efforts to reform and attract additional investment according to most market commentators. Opportunities exist outside of Europe and Algeria has built a world-class reputation for the security of supply despite domestic changes. Last July Greek Oil & Gas Company of the Year recipient Energean agreed to buy Italy-based Edison’s E&P assets which initially included Algeria.

Source: The North Africa Journal February 07, 2020 07:41 UTC