Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, held strategic discussions with the Secretary-General of the International Energy Forum (IEF), Joseph McMonigle, on Monday. The meeting took place on the sidelines of the 21st session of the General Conference of the United Nations Industrial Development Organization (UNIDO) in Vienna.
The discussions, attended by senior officials from both sides, provided an opportunity to review the cooperative relationship between Algeria and the IEF and explore avenues for its further development in light of the evolving global energy landscape. Key topics included the analysis of oil and gas market trends amidst current volatility, challenges related to energy security, and the requirements for a successful energy transition.
Minister Arkab reaffirmed Algeria’s unwavering support for the IEF, recognizing it as the world’s largest gathering of energy ministers and a crucial platform for dialogue between producing and consuming nations. He emphasized that the IEF’s member states account for over 90% of global oil production. The Minister underscored the importance of strengthening cooperation within this multilateral framework through enhanced consultation, coordinated positions, and intensified joint efforts to stabilize markets and stimulate long-term investments in the oil and gas industries.
He further stressed the need to support training, knowledge sharing, and human capacity development, as well as deepen the dialogue on deploying modern technologies to ensure a balanced energy transition that meets both energy security requirements and sustainable development goals.
The IEF Secretary-General lauded Algeria’s pivotal role within the Forum, praising the high level of dialogue that characterized the 15th Ministerial Meeting held in Algiers in 2016. He highlighted the “Algiers Accord” which emerged from that meeting and paved the way for the Declaration of Cooperation (DoC) between OPEC and non-OPEC countries.
McMonigle emphasized the urgent need to ensure sustainable, long-term investments in the hydrocarbon sector to meet the continued growth in global oil and gas demand. He advocated for a realistic approach based on a balanced energy mix that incorporates traditional and renewable energy sources, as well as clean technologies.
Minister Arkab concluded the meeting by extending a formal invitation to the IEF Secretary-General to visit Algeria, with the aim of strengthening bilateral partnerships and expanding cooperation initiatives between Algeria and the International Energy Forum.
