Archive for July 2012

Algeria to invest $80 bln in oil and gas over 5 yrs   Leave a comment

KUALA LUMPUR (Reuters) – Algerian state energy company Sonatrach plans to increase its investment to $80 billion over the next five years as the OPEC member country seeks to expand its gas resource base and boost its refining and petrochemical capacity.

The planned investment is $12 billion more than previously announced by the North African producer, which is a significant supplier of natural gas to Europe.

“The increase in the investment is mainly focused on the upstream (sector) to increase its refinery capacity and petrochemical base,” Sonatrach CEO Abdelhamid Zerguine told a gas industry conference on Wednesday.

Algeria needs to import large quantities of refined fuel products such as gasoline and gasoil due to insufficient refining capacity, while domestic demand is growing.

In 2011, Sonatrach purchased around 1.3 million tonnes of fuels.

Zerguine said some of the $80 billion investment would be used to build new refineries, but he gave not details.

He also said Algeria has huge shale gas reserves. A preliminary study shows that Algeria has an estimated 600 trillion cubic feet of recoverable shale gas reserves, he said, without giving details.

Algeria currently produces 1.2 million barrels of crude a day, Zerguine added.

“We are producing up to the level of the OPEC quota,” he said, referring to the quota set by the Organization of the Petroleum Exporting Countries.

Source: Reuters

Posted July 3, 2012 by newworldconsulting in Uncategorized

Meet 22,000 Megawatts of Clean Energy in Algeria   Leave a comment

According to Algeria’s Renewable Energy and Energy Efficiency Program some 22,000 MW of power generating capacity will be installed from renewable sources by 2030.

To reach this ambitious target, exhibiting international market leaders like ABB, Centrotherm, Eurosol, Siemens and WEG are already realizing large scale investments in the Algerian energy market.

Agreements amounting to billions of Euros were signed during the past year with Sonelgaz, Socièté Nationale de l’Electricité et du Gaz, National Society for Electricity and Gas, a state-owned utility in charge of electricity and gas distribution in Algeria: “Algeria aims to be a major actor in the production of electricity from photovoltaic and solar power as it considers this source of energy as an opportunity and a lever for economic and social development, particularly through the establishment of wealth and job-creating industries,” says Kahina Behloul, manager with Eurl fairtrade expo.

The event will include seminars on renewables and energy efficiency, while further value comes via the active participation and possibility of networking with Sonelgaz, NEAL-New Energy Algeria and APRUE-The Algerian National Agency for the Promotion and Rationalization of the Use of.

The German trade fair specialists fairtrade Messe and its Algerian-German team have recognized the potential and the need for the North African energy industry. After the resounding success of elec expo & EneR Event in November 2011 in Morocco, with 213 exhibitors and 5,246 visitors, the 16th elcomUkraine in April 2012 and now the 6th electro, automation & energy also address these topics.

Posted July 3, 2012 by newworldconsulting in Uncategorized

MALTESE BUSINESSES GAINING FOOTHOLD IN TUNISIA   Leave a comment

A 22-strong business delegation organised by Malta Enterprise registered encouraging business prospects following successful meetings held in Tunisia, with some of the delegates being close to reaching business deals or cooperation agreements.

The business delegation, which met around 100 Tunisian enterprises during its five-day stay, comprised companies operating in sectors such as professional services, engineering, building and
construction, food and beverages, ICT, chemicals, tools as well as environmental services.

A number of delegates had already formed part of other business delegations organised by Malta Enterprise to Tunisia last year and were following up on the leads they had established at the time,
while others were visiting the neighbouring market for the first time and were thus exploring the business opportunities it offers.

One-to-one meetings for the Maltese companies with their Tunisian counterparts were organised by Malta Enterprise in collaboration with the Maltese Embassy in Tunis and the Agency for the
Promotion of Industry and Innovation (API) with the support of the Centre de Promotion des Exportations de la Tunisie (CEPEX) and the Foreign Investment Promotion Agency (FIPA).

While in Tunis, the business delegation also attended the inauguration of the Tunisia Investment Forum. Now in its second edition, this year’s Tunisia Investment Forum focused on the challenges spawned by the revolution and the opportunities that the new Tunisia offers for international investment.

A planned visit to Sousse, where other business to business meetings were envisaged to take place, was not held for precautionary reasons and was instead replaced by additional meetings and networking sessions in Tunis.

Forming part of the initiatives being taken to strengthen the commercial ties between the two neighbouring countries, the business delegation follows up on the signing of a Memorandum of
Understanding signed between Malta Enterprise and CEPEX and the organisation of two business delegations to Tunisia last year, as well as an incoming Tunisian delegation that visited Malta earlier
this year with particular attention on the food and beverage industry.

The business delegation was also supported by the Malta Chamber of Commerce, Enterprise and Industry, the General Retailers and Traders Union and the Gozo Business Chamber.

Posted July 3, 2012 by newworldconsulting in Uncategorized

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