Algeria plans to invest $60 billion in energy projects between 2025 and 2029 as part of an ambitious strategy to expand its oil, gas, and hydrogen sectors, Energy and Mines Minister Mohamed Arkab announced on Monday.
Speaking at an energy forum in Algiers, Arkab said that 80% of the planned investment will go toward upstream exploration and production, while the remaining funds will be allocated to refining and petrochemical projects, Reuters reported.
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The minister also emphasized Algeria’s growing focus on cleaner energy, noting that the country has launched projects aimed at generating 3,200 megawatts of renewable power as part of a broader effort to diversify its energy sources.
“We are committed to the energy transition without abandoning gas as a natural resource,” Arkab said.
He added that state-owned energy company Sonatrach is working to reduce gas flaring to below 1% by 2030, supported by a large-scale afforestation initiative covering 520,000 hectares.
Arkab said the North African nation is determined to solidify its position as a key energy supplier to international markets while meeting domestic demand and advancing its transition toward more sustainable energy solutions.
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Image Credit: European Council on Foreign Relations
