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Policy & Regulation

Algeria plans major investments in energy to 2022

Algeria will invest $75 billion in its energy sector between the end of this year and 2022.
By Staff reporter 22 November 2018 Middle East & Africa / Policy & Regulation 0 33413

Algeria will invest $75 billion in its energy sector between the end of this year and 2022, Algerian Minister of Energy Mustapha Guitouni has said, according to the Algerian Press Agency.

The statement was issued during an Algeria-EU summit in Algiers. Of this amount, 75% – or $56 billion – will be spent in the oil and gas sector, although it is unclear if this will be in the upstream or downstream sectors.

The minister also said European companies would be encouraged to invest...