Algeria: Energy minister lauds new gas finds

ALGIERS, Algeria (AP) Algeria's energy minister says an increase in the country's substantial gas reserves, thanks to recent discoveries, without giving exact numbers.

Yousfi Yousfi told the state news agency new discoveries this year, including as recently as last week, are very promising and will result in an increase in estimated reserves.

His Monday announcement follows harsh criticism by the local press that Algeria, Europe's No. 3 gas supplier, will have trouble maintaining its exports in light of rising local demand.

Algeria has an estimated 4 trillion cubic meters of gas reserves and produces 50 billion cubic meters a year.

Local consumption is 31 billion cubic meters which has been increasing at a rate of 2 billion a year.

He said Algeria's first nuclear plant is still set to come online in 2025.

This story has been automatically published from the Associated Press wire which uses US spellings

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production apcf05 at 31 Jul 2016 12:30:29 Processing Time: 372ms