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Monday, April 24, 2017
Minister of Energy Noureddine Boutarfa and European Commissioner for Climate Action and Energy Miguel Arias Canete agreed Tuesday in Brussels on strengthening cooperation as part of the Algeria-EU strategic partnership on energy.Boutarfa and Canete agreed on organizing the 2nd Algeria-European Union business forum at the decision-making level in Algiers and assessing effective progress during the annual dialogue meeting in 2018, said a joint communiqué released after the 2nd annual high-level political dialogue on energy between Algeria and the EU.The minister and the commissioner hailed "the increasing quality and intense EU-Algeria dialogue on energy" through the setting up of permanent political dialogue structures.According to the communiqué, the 2nd annual high-level political meeting allowed both sides to "discuss prospects of hydrocarbons development in Algeria," particularly natural gas, which is "a strategic challenge""Algeria is and will remain a major and reliable supplier to Europe in the middle and long terms while Europe is and will be the main importer of Algeria in the upcoming years," stated the communiqué.The exploitation of Algeria's "large gas resource will serve its economy and contribute to EU supplies," stressed the communiqué, highlighting the "comparative advantages" Algeria has, particularly its geographic proximity to Europe.During the works of expert groups, Algeria highlighted the prospects for strong growth in its natural gas production and its export potential.Boutarfa and Canete agreed on increasing European investments in hydrocarbons and pursuing dialogue to further strengthen attractiveness of the investment framework."Algeria banks on the support of the EU to ensure the mobilization of European companies for an effective participation in the success of this project," said the source.Noting the scope of this initiative, Commissioner Canete called European investors to participate in this ambitious step.Both sides stressed the need to develop energy efficiency and agreed on exploring new cooperation fields through support of European financial institutions specializing in this field.According to the communiqué, the strategic partnership between Algeria and the EU can also bank on the European program of technical and financial assistance entitled "Support to renewable energies, particularly electric, and energy efficiency in Algeria."
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