'Grave fears' for energy industry in North Africa -the Independent
BP may be forced to reevaluate its gas exploration activities in Algeria due to Al Qaeda's threat of further attacks on its workers in the region, following the In Amenas hostage crisis, the UK daily newspaper, The Independent says quoting industry surces..
Source : https://www.marocafrik.com/english/Grave-fears-for...
BP is Algeria's largest investor and was granted new licences in Libya days before the In Amenas attack close to the Libyan border.Algeria isthe third largest gas exporter to the EU.
Whilst acknowledging Algeria's tough stance on security The Independent quotes industry sources as saying that further investment in the region may be impeded by security concerns for personnel. It says that there is a huge security problem whch affects Algeria, Libya and Morocco. Whilst BP's presence in Algeria is likely to continue it may affect further investment in the region.
Whilst the immediate threat to European gas suppliesis not that serious there is,says the article a long term threat to supply and other Oil and gas exploration companies have begun to evacuate workers from Algeria , the article says adding that drilling operations by Total of France and Eni of Italy may also be affected. Italy nd Spain are the major markets for Algerian gas. Hydrocarbons provide 98% of Algeria's export earnings.
The newspaper notes that the USA is turning to Shale gas to reduce its dependenc on external sources. The UK however regards Algerian gas asan importantsource of energy. However as Algeria's gas industry requires signifcant levels of technological investment and if the oil and gas majors reduce their presence or pullout because of the terrorist threat to their workers it will seriously affect Algeria's gas industry. it concludes.
Whilst acknowledging Algeria's tough stance on security The Independent quotes industry sources as saying that further investment in the region may be impeded by security concerns for personnel. It says that there is a huge security problem whch affects Algeria, Libya and Morocco. Whilst BP's presence in Algeria is likely to continue it may affect further investment in the region.
Whilst the immediate threat to European gas suppliesis not that serious there is,says the article a long term threat to supply and other Oil and gas exploration companies have begun to evacuate workers from Algeria , the article says adding that drilling operations by Total of France and Eni of Italy may also be affected. Italy nd Spain are the major markets for Algerian gas. Hydrocarbons provide 98% of Algeria's export earnings.
The newspaper notes that the USA is turning to Shale gas to reduce its dependenc on external sources. The UK however regards Algerian gas asan importantsource of energy. However as Algeria's gas industry requires signifcant levels of technological investment and if the oil and gas majors reduce their presence or pullout because of the terrorist threat to their workers it will seriously affect Algeria's gas industry. it concludes.
Source : https://www.marocafrik.com/english/Grave-fears-for...