ALGIERS – Algeria is expected to invest $71 billion in the energy sector over the five coming years, becoming thus the third largest investor in the sector in the MENA (Middle East and North Africa) region. According to a report released earlier this week by the Arab Petroleum Investments Corporation (Apicorp), with its $71 billion worth investments in the energy sector over the 2013-17 period, Algeria will hold the third rank after Saudi Arabia with investments totaling $165 billion and the United Arab Emirates (UAE) with a $107 billion investment. With the amounts it is expected to inject in the sector, Algeria will rank ahead of Iran, Iraq and Qatar, according to Apicorp forecasts. As to the total energy capital investment by MENA oil producing countries, it is expected to amount to $740b for the five-year period 2013-17. Gas producing countries are expected to inject a total investment of $140 billion in the energy sector during the same period. However, the report underlines, unlike oil investments, natural gas projects that are export-oriented face market uncertainty because international gas prices have significantly deviated from oil parity and are characterized by differences between regional markets. Compared to past assessments, which have been consistently revised to fully reflect adjustments in the power sector, investment appears to be on the rise again, Apicorp said. – SG/Agencies
