In a context where many countries are looking for alternatives to Russian gas, Algeria has just made an important discovery.
The Algerian oil and gas group Sonatrach announced on Monday the discovery of a gas condensate deposit in the Hassi R'mel fields, in the Algerian Sahara.
“Sonatrach announces, today, that it has highlighted a significant potential in hydrocarbons (…) at the level of the Hassi R'mel exploitation perimeter”, specified the group.
The reserves of this deposit are estimated at “between 100 and 340 billion m3 of gas condensate”.
Operation is expected to begin in November
Gas condensate is natural gas that contains liquid hydrocarbons in suspension, similar to crude oil, which greatly increases its value.
"These volumes constitute one of the largest revaluations of reserves in the last 20 years," added the oil group.
Sonatrach plans to start mining this deposit in November, which should produce 10 million m3 per day.
Algeria, whose proven reserves of natural gas amount to nearly 2.4 trillion m3, supplies around 11% of the gas consumed in Europe, against 47% for Russia.
It is the first African exporter of natural gas and the 7th in the world.
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