The Algeria-EU Energy Business Forum kicked off on Tuesday in Algiers to provide more energy cooperation opportunities between the two sides.
Algerian Prime Minister Ayman Benabderrahmane, Minister of Energy and Mines Mohamed Arkab, the European Commissioner for Energy Kadri Simson, and some 100 European and Algerian energy businessmen and investors took part in the forum.
Benabderrahmane called on European energy industrialists to invest in Algeria's energy sector to increase the country's output and meet the growing demand.
"Algeria is the largest natural gas producer in Africa, and the third largest supplier of fossil fuel to EU, while EU, in turn, is the most important market for Algerian gas," the prime minister said, stressing that "both sides aim to strengthening energy security and promoting renewable energies and energy efficiency."
"Algeria has large potential in terms of oil and gas reserves," he added, noting "the intensification of exploration efforts is at the core of Algerian strategy, and investment opportunities are open to European partners."
For her part, the European commissioner said that Europe is seeking new gas suppliers following the end of cooperation with Russia, stressing "a big shift in the EU's gas support."
In 2013, Algeria and the EU signed a memorandum of understanding (MoU) that established cooperation covering all aspects of oil and gas, renewable energy, and energy efficiency, as well as the legal and regulatory framework.
Editor: Leon
