France closing in on natural gas deal with Algeria

France closing in on natural gas deal with Algeria
2 min read
29 August, 2022
France is closing in on an energy deal with Algeria, days after French President Emmanuel Macron concluded his visit to the North African country.
Algeria is one of Europe's biggest energy suppliers [Getty]

French multinational Engie SA is close to an agreement with Algeria for an increase in imports of natural gas, according to Bloomberg

A deal could raise the delivery of Algerian natural gas by around 50 percent.

The news comes after a visit by French President Emmanuel Macron to Algiers where he met his Algerian counterpart Abdelmadjid Tebboune and vowed to “build a new pact” with the north African country. 

An Engie spokesperson has confirmed that talks are ongoing, but did not comment on the nature or timing of any new agreement. 

French government spokesperson Olivier Veran said on Sunday that “diplomatic negotiations are ongoing,” and added that a formal announcement could come soon. 

Algeria is Europe’s third biggest gas supplied after Russia and Norway. It has recently discovered new reservoirs, and signed an energy deal with Italy in July this year.