2014-02-07 21:29:01 - Algeria Oil and Gas Report Q1 2014 - a new market research report on companiesandmarkets.com
Algeria continues to dominate the African gas market. We expect that the country will progressively switch towards a higher proportion of LNG use for its exports as pipeline consumers in Europe are expected to see a flattening demand over the coming years. These exports will be fuelled by a steadily growing gas production, with projects such as Menzel Ledjmet Est, Touat, Ain Tsila, Reggane Nord and Timimoun set to come online in the next few years. Adoption of new hydrocarbons regulation in January 2013 could spur exploration in Algeria in the coming year, especially in offshore and unconventional acreages. We are nonetheless sceptical about the tax reform, which could prove burdensome for oil and gas producers.
The key trends and developments
in Algeria´s oil and gas sector are:
- The Touat projects appear to be on schedule, with target start-up date for 2016. The field could add 4.5bcm of gas to the country´s output at peak, contributing to our view that despite rapid depletion of major fields, the country could revive its gas production.
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