Algeria is in the spotlight as leaders of gas producing countries convene for summit
abcnews.go.comAlgeria will flex its muscle as a critical supplier for European countries seeking to lessen dependence on Russian gas as it welcomes leaders from other energy rich nations to a summit in Algiers this week
ALGIERS, Algeria — Algeria is looking to cast itself as a critical supplier of natural gas for European countries seeking to lessen their dependence on Russia as it welcomed Thursday envoys from energy rich nations to a key summit.
For three days, Algeria will host leaders from 13 other nations in its capital of Algiers, including Russia, Iran, Qatar and Venezuela as the industry confronts waning demand for oil and gas and new competition from renewable energy sources.
The summit will offer participants a chance to coordinate on investments and ties with purchasing countries and to further develop production capacity. Officials have also indicated the summit will provide a venue to showcase Algeria's growing role as a secure and reliable energy supplier.
Algerian President Abdelmajid Tebboune said in a message on the summit’s website that the gathering underscores how “natural gas is increasingly in demand as a crucial energy source for socio-economic development, being one of the main clean and environmentally friendly alternative energy sources.”
As European countries have tried to wean themselves off Russian energy, Algeria has emerged as the continent's second largest pipeline supplier of gas, after Norway. It is the top supplier of gas to Spain and also Italy, whose Premier Giorgia Meloni visited last year. Algeria's state-owned energy company Sonatrach recently signed a deal to sell natural gas to Germany's VNG.
Karim Allam, an oil and gas industry analyst, said the summit would provide an opportunity to make
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