(Ecofin Agency) - In Algiers, the Minister of Energy, Salah Khebri (photo), has said that Sonatrach’s investment in exploration and production should be more than 73 billion dollars between 2016 and 2020.

According to him, this shows the country’s readiness in maintaining the required production to meet demand.“The volume of investment foreseen by Sonatrach for 2016-2020 exceeds 73 billion dollars, two thirds of which in exploration and production. This indicates Algeria’s willingness to maintain the necessary production to satisfy domestic demand, which is in constant growth,” he said.

The Minister noted that Algeria’s successes in hydrocarbon needed major investments. The country’s cumulative between 2000 and 2015, reached $100 billion achieved by Sonatrach and its partners.Algeria’s capacities in gas exports, reached close to 90 billion m3 annually of which 50m3/year is devoted to Europe through three gas pipelines, while the remaining is made of liquefied Natural Gas (LNG).

Khebri added that the country had supplied a total of 1,500 billion m3 as LNG through gas pipelines, Algeria Press Service reports.

Anita Fatunji