The current state of the world’s natural gas market and energy transition

Mr. Choeib Boutamine

March 1, 2024

In an interview with the TV channel Canal Algérie on the occasion of the Gas Exporting Countries Forum (GECF), the CEO of Ranadrill Consulting Mr. Choeib Boutamine highlights that the USA has become the major exporter of natural gas to the European Union since the outbreak of the war in Ukraine.

However, the United States is not a reliable exporter of natural gas, as its gas market is subjected to political decisions.

On the other hand, gas supply to the EU from countries like Qatar is taking a long time given that the situation in the Red Sea hampers natural gas transportation through Bab El-Mandab.

Mr. Choeib Boutamine stresses that a stable gas situation in Europe means investing in gas pipelines, such as the Trans-Saharan Gas Pipeline (TSGP) which will cross Nigeria, Niger, and Algeria transporting 30 billion cubic meters of gas per year to Europe.

As for Africa, the continent deserves to have a share in natural gas production, and Algeria’s experience in LNG production, exploration, exploitation, transportation, and drilling will benefit African countries willing to invest in natural gas, like Mauritania and Senegal.

Africa has great potential in terms of natural gas but it needs technology to make more discoveries and extractions. Furthermore, the energy transition needs minerals, which allows Africa to play a major role in the transition by investing in its minerals.