On 23-24 May, Commissioner for Climate Action and Energy Miguel Arias Cañete travelled to Algiers to strengthen the EU's energy cooperation with Algeria. Together with the Algeria's energy Minister Mr. Salah Khebri, he opened the very first EU-Algeria Business Forum dedicated to energy.
The Forum, a concrete follow-up of the EU-Algeria Political Dialogue on Energy launched by the Commissioner in May last year, gathers more than one hundred European and Algerian energy companies, industrial and financial associations to discuss ways to facilitate much-needed investment in Algerian gas exploration and exploitation, renewable energy and energy efficiency sectors.
Commissioner Arias Cañete said: " This first-ever business forum is an important first step in opening up new possibilities for European and Algerian companies to create constructive business partnerships and transform investment plans into reality. At this event, we will discuss ways to remove regulatory barriers to investment in the Algerian energy sector with our Algerian partners".
With its vast proven gas reserves and ideal weather conditions for the production of renewable energy, Algeria is a crucial partner for the EU in its continuous drive to diversify its energy supplies and strengthen energy security.
In line with the Energy Union and as part of a revitalised European energy and climate diplomacy, the EU will use all its foreign policy instruments to establish strategic energy partnerships with increasingly important producing and transit countries or regions including Algeria.