Algeria plans $60 billion energy investment over five years, Energy minister says

TUNIS, Oct 6 (Reuters) – Algeria will invest $60 billion in energy projects between 2025 and 2029 as part of a large-scale strategy to boost oil, gas and hydrogen development, Energy and Mines Minister Mohamed Arkab said on Monday. Speaking at an energy forum in Algiers, Arkab said 80% of the investment will be directed toward upstream exploration and production, while the remaining funds will support refining and petrochemical projects. The minister also highlighted Algeria’s push towards cleaner energy sources, saying Algeria has launched projects to generate 3,200 megawatts of renewable energy as part of the country's broader energy diversification efforts. The North African country aims to strengthen its role as a key supplier of energy to international markets while meeting domestic demand and making a transition to more sustainable sources. (Reporting by Tarek Amara Editing by Tomasz Janowski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)