National Petrochemical Development Programme Requires Over US$20 Billion

Source: Algeria Times 2/25/2014, Location: Africa

The achievement of the projects identified as par of the national programme for the development of petrochemical industry requires investments exceeding US$ 20 billion, announced Monday Minister of Energy and Mining Youcef Yousfi.

"Over US$20 billion are needed for the achievement of projects already identified as part of the programme," said Yousfi in an interview with APS on the occasion of the 43rd anniversary of the hydrocarbon nationalization.

The programme, which will be achieved in partnership with foreign companies for the transfer of technology and know-how "will offer a genuine opportunity for not only develop an important area of our economy but also reduce imports and enter the international market," he explained.

Algeria's production capacity of the liquefied natural gas (LNG) will increase to 12 billion cubic metres per year after the recent restart of the liquefaction train of Skikda plant, which has a capacity of 6 billion cubic metres per year, in addition to the commissioning of a unit with teh same production capacity, announced Yousfi.

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects


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