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Algeria doesn’t support idea of setting ceiling on gas prices
ALGIERS- Minister of Energy and Mines Mohamed Arkab affirmed Tuesday, in Algiers, that Algeria doesn’t support the idea of setting a ceiling on natural gas prices in the energy markets, pointing out that this measure will directly affect the upstream investments.
In a reply to a question on the decision of the European Union on the gas prices ceiling, in a press conference on the sidelines of the 4th Algerian-German Energy Day, Arkab said that “Algeria doesn’t support the idea of setting a ceiling on gas prices,” adding that “the energy markets must remain free to continue the achievements and the upstream investments.”
“We have agreements with our partners in Europe to supply them with energy, notably natural gas. Algeria is considered as a reliable supplier for Europe and we fully agree with our European partners on long term prices,” said the minister.
In his speech in the works of this event, Arkab said that the large-scale investments in the field of natural gas in the medium and long terms require a “clear” vision on the development of markets in Europe.
“The oil and gas industries are likely to be affected by the legislative changes introduced by the EU, notably concerning the carbon neutrality by 2050 and the resolutions related to methane, as well as the EU’s unilateral measures, such as price ceiling, which destabilize markets,” he underlined.
