Led by Alexey Miller, Chairman of Gazprom’s Management Committee, the Company’s delegation has paid a working visit to the People's Democratic Republic of Algeria.

Within the visit Alexey Miller met with Chakib Khelil, Algerian Energy & Mining Minister. Gazprom’s delegation also conducted negotiations with Mohamed Meziane, President and Chief Executive Officer of the state oil & gas company Sonatrach Algeria.

The parties reached agreements to sign a Memorandum of Understanding between Gazprom and Sonatrach, foreseeing deeper comprehensive cooperation in the oil & gas sector based on joint projects in Russia, Algeria and third countries.

The parties also discussed possible participation in tenders for oil & gas exploration and development; upgrading and construction projects for hydrocarbon transportation & processing infrastructure and gas liquefaction capacities; the prospects for the mutually beneficial partnership in pipeline gas and LNG production & deliveries worldwide.

The Memorandum is planned to be signed in the nearest future at the next meeting in Moscow.

Reference:

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

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

The country’s proved 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 basket accounts for 62.5, 34.5, 2.5 and 0.5 per cent, respectively.