Headed by Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee, a Gazprom delegation has paid during May 29-31 a visit to the People's Democratic Republic of Algeria.

Within the visit Alexander Medvedev met with Abbas Fa?al, Secretary General of the Algerian Energy & Mining Ministry and Mohamed Meziane, President and Chief Executive Officer of Sonatrach.

The parties addressed issues surrounding deeper multilateral cooperation between Gazprom and Algeria and the oil & gas sector. In particular, the parties reviewed possibilities of jointly implementing “full cycle” projects encompassing hydrocarbon exploration, production, transmission, processing and marketing in Algeria, Russia and third countries.

Additionally, the parties discussed the prospects for the mutually beneficial cooperation in LNG production and supply worldwide.

The parties confirmed their interest in promoting the long-term collaboration between Gazprom and Algeria in the energy sector and agreed to continue the dialogue during a Chakib Khelil, Algerian Energy & Mining Minister’s visit to Moscow, which is slated for this year’s July.

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The second-largest in Africa after Nigeria (5 tcm), Algeria’s proven natural gas reserves account for 4.55 tcm, with the bulk situated in the country’s central and eastern parts.

In 2004 Algeria’s natural gas production and consumption stood at 82 bcm and 21.2 bcm, respectively. Algeria exports pipeline natural gas to Italy, Spain, Portugal, Tunisia and Slovenia, and ships liquefied natural gas to France, Spain, the USA, Turkey, Belgium, Italy, Greece and South Korea.

The country’s proven oil reserves make up 1.5 bln t (third-largest in Africa after Libya and Nigeria).

The share of natural gas, oil, coal and hydropower in the Algerian energy mix accounts for 62.5, 34.5, 2.5 and 0.5 per cent, respectively.