Energy Cooperation With Europe - Rhetoric Or Reality?
BMI View: Greater cooperation in energy between Algeria and the European Union, promised by a memorandum of understanding (MoU) signed by the two parties, cou ld benefit both signatories on paper. It could promise greater foreign investment into Algeria to support development of its oil and gas resources so as to boost production. However, given the domestic political difficulties that Algeria could face in strengthening energy relations with the EU, we are cautious about the extent to which this collaboration could be carried out. This is particularly in view of the scarcity of details surrounding the means through which this cooperation would come about .
Algeria and the European Commission have signed an agreement for energy cooperation during EC president Jose Manuel Barrosso's visit to the North African country over July 6-7 2013. The two parties entered into a memorandum of understanding (MoU) to further energy-related cooperation, in what the EC describes as a 'priority area for the European-Mediterranean partnership'. This agreement will cover the following areas according to the EC's press statement:
Oil and gas, renewable energy and improving energy efficiency;
Tight Dependence Italian Gas Imports By Country Of Origin (%), 2012