Algeria's shale gas is a goldmine equivalent to the half Russia's reserves. Why aren't we exploiting it yet?
I’ve been looking into global energy data, and Algeria sits on the 3rd largest shale gas reserves in the world (around 20 trillion cubic meters). This is a monumental energy treasure, comparable to the massive scales of Qatar's entire gas reserves, and equivalent to about half of Russia's total conventional reserves.
In my opinion, exploiting this resource would bring nothing but major advantages for Algeria. The big news right now is that Sonatrach is in advanced, final-stage negotiations with US supermajors ExxonMobil and Chevron to unlock these resources. According to Algeria's energy regulator ALNAFT, the technical parameters are already settled, and they are currently finalizing the commercial agreements.
Here is why this upcoming alliance is a historic game-changer:
World-class American expertise: ExxonMobil and Chevron possess the exact hydraulic fracturing technologies that sparked the US shale revolution. They are the best suited to extract it efficiently.
Massive economic boom: Securing these contracts will channel tens of billions of dollars in foreign direct investment, massively boosting state revenues.
The ultimate strategic advantage: Algeria's close geographic proximity to Europe is a massive asset. With the ongoing, severe instabilities and turbulence in the Middle East, pipelines across the Mediterranean offer a much safer, direct, and secure energy supply route for European markets.
Infrastructure and jobs: The export pipeline network is already operational. Scaling up production will create thousands of specialized jobs for Algerian youth, especially in the South.
I am strongly pro-exploitation on this. What is the general feeling here? Do you think the country is finally on the right track to transform its economy?