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Wednesday, Feb 08, 2023

Algeria Suggests to Sell Spare Electricity Capacity to Europe

Algeria Suggests to Sell Spare Electricity Capacity to Europe

Algeria is offering to Europe its spare electricity capacity, and it is planning a 270 km undersea pipe towards Italy, Algerian President Abdelmadjid Tebboune told reporters in an interview on Thursday.
Algeria is also pushing to double its gas exports to reach 100 billion cubic meters per year versus 56 billion cubic meters per year in 2022, Tebboune added.

He also said that his country would join the BRICS group by the end of 2023, revealing that China, Russia and South Africa agreed to this.

“I hope that the year 2023 will culminate in our joining the BRICS group, but this requires us to continue investment and human development, increase the volume of exports and raise the annual gross domestic product to $200 billion,” Tebboune said.

“I participated in a meeting of the BRICS group remotely, but next time I hope to be present among them. I invite the group to create mutual partnership and launch investment projects in mines, for example, and I invite India, China and South Africa to contribute with us in embodying the Trans-African Road.”

The Algerian president highlighted that investment in Algeria is reliable and does not mean going on an adventure, stressing that his country’s ties with Europe exists and will be stronger in the future.
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