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Algeria Plans to Boost LNG
Date: Friday, June 8, 2012
North Africa’s Algeria has big plans for its LNG industry. Minister of Mines and Energy, Youcef Yousfi, speaking at the World Gas Conference in Kuala Lumpur said that the country plans to boost its LNG exports to 40 Bcm over the next two to three years.
Algeria currently exports between 55 and 60 Bcm of natural gas per year, 27 Bcm of that is in the form of LNG.
Yousfi said that the country is building two new facilities to process LNG which should be ready next year. Additionally, Algeria has met with potential customers in Asia to discuss exports. Older plants will be revamped or closed.
Earlier this week Algeria’s Sonatrach met with Russian gas giant Gazprom on possible cooperation in the production and exportation of LNG.
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