Algeria plans 22GW renewables capacity by 2030, lessening a reliance on gas. But falling oil prices and export revenue could make these plans difficult to fulfill.
Algiers is reliant on hydrocarbons for 97% of export revenues. Even before the 50% fall in oil prices since mid-2014, revenues were on a downward trajectory. Oil output is falling. Gas production is stagnant whilst exports have fallen sharply as domestic consumption has risen: 46% of Algeria’s 2013 gas production was consumed domestically – 36.6 bcm of 79.7 bcm sales gas output. (CONTINUED - 1880 WORDS)
