European Demand for Algerian Gas Rises, Minister Confirms
Minister of Hydrocarbons Mohamed Arkab has confirmed an increasing European demand for Algerian natural gas, reinforcing Algeria's established position as a reliable energy supplier. Speaking before the Finance and Budget Committee of the National People's Assembly, Minister Arkab highlighted the renewal and signing of long-term supply contracts with several European partners, including Italy, Spain, Slovenia, the Czech Republic, and Germany, during discussions on the 2027 Finance Bill.
The nation's hydrocarbon sector demonstrated robust financial performance, with oil taxation generating 2,841 billion dinars, surpassing the 2026 Finance Law forecasts by approximately 5%. Furthermore, Sonatrach's investments exceeded $6 billion, marking a 21% increase compared to the $5.3 billion recorded in 2025. These financial upturns reflect a dynamic period for the sector.
Algerian hydrocarbon export revenues reached $37.5 billion during the first nine months of 2026. This performance was notably supported by a 37% rise in the average price of Algerian crude oil, which neared $97 per barrel, relative to the same period in 2025. The average price for commercialized Algerian gas also reached approximately $11.3 per million British Thermal Units. The sector's growth also extended to employment, with nearly 193,000 workers by the end of the first half of 2026, accompanied by the creation of new direct jobs compared to the previous year.
