SKU: 132100
Author: Wood Mackenzie

Commodity Market Report 24 August 2020

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Report summary

Algeria maintains its dominance as Africa's largest gas producer, but increased investment and fiscal reform are required to drive growth. On-going compression work at Hassi R'Mel, additional sales gas from legacy oil fields and new projects in the southwest will help Algeria sustain production in the short term. Longer-term, the same risks and need to develop new replacement supply remains. Total exports (pipe and LNG) have fluctuated over the last decade, averaging 49 bcma. We anticipate a downward trend in the level of gas available for export due to growing domestic demand.

Over half of Algeria’s gas production comes from the giant Hassi R’Mel field; its output is falling, but compression work will slow near-term decline
Southwest phase two projects are on the horizon following the successful start-up of Reggane Nord, Timimoun and Touat over the last few years
Improved fiscal terms could encourage much needed foreign investment
New gas from yet-to-find and – potentially – unconventional resources will take years to materialise
Pipe
- Gas sales in North Africa
- International contracts
- Extensions and new deals
LNG
- International contracts
- Extensions and new deals
Recent trendsand medium-term outlook