• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 14 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 24 hours America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 8 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Britain Looks to Algeria for Alternative Supply of LNG

Almost all of Britain’s natural gas imports come from Qatar, but Qatar are now only sending left-over short-term deliveries, preferring to concentrate on high paying Asian customers, Japan and South Korea pay almost double the UK. Fears have grown that the UK may face a supply shortage in the future and are therefore looking to find an alternative supplier.

Algeria may be the key.

Following the attack on the In Amenas gas plant Algiers is looking to boost its oil and gas sector by attracting foreign investment.

Last month the government created new laws that offered easier tax terms and other incentives to attract foreign energy firms.

Related article: Shell's $6 Billion Deal with Repsol Crowns LNG King

Youcef Yousfi, Algeria’s Energy Minister, will take a trip to London this March when he is expected to talk with Prime Minister David Cameron about the possibility of supplying LNG to the UK.

Russia’s Gazprom, the world’s largest gas producer, spoke to Algeria’s state owned Sonatrach earlier in the month about a desire to create a long-term relationship. Gazprom supplies the majority of natural gas to Europe, but it is looking to expand in order to supply LNG to the growing market in Asia.

Analysts have warned that the unconventional reserves in Algeria are still decades away from being developed, and the current conventional resources are unlikely to attract the levels of investment needed to develop other reserves in the south of the country which is highly unstable and dangerous.

ADVERTISEMENT

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News