TUNIS (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.
“We are committed to the energy transition without abandoning gas as a natural resource,” Arkab said.
He said that state energy firm Sonatrach aimed to reduce gas flaring to less than 1% by 2030, supported by a large-scale afforestation project covering 520,000 hectares.
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 a Jaidaa Taha, Editing by Tomasz Janowski)
