(Ecofin Agency) - The State minister, minister of Foreign Affairs and International Cooperation, Ramtane Lamamra, revealed a little about the preoccupation of Algeria on the current oil prices, answering the media Monday at the end of his meeting with French president François Hollande.

According to APS, Mr Lamamra appears optimistic about the “clean-up” of the oil market and revealed that his country is still working in that regard by being “constantly pioneering” in terms of solidarity with producing countries. “We keep on working and we will only attend the OPEP summit if we are sure of its success”, he stressed, recalling the solidarity of Algeria with other producing countries “when it comes to approaches which are aimed towards the general interest”.

Ramtane Lamamra estimates that, according to APS, the current prices on the oil market are not “satisfactory” and it is important to “avoid volatility” by stabilising the market at a “reasonable level”.

“Going back to a high level (…) is illusory and not realistic, and between the two, there could be a satisfactory solution for everybody”, he declared.

Algeria has an important potential in hydrocarbons and is, by its current ranking of natural gas producer, a major supplier of the European Union, presenting itself as a serious alternative to Russian gas.