Algerian official: We allocated $25 billion to invest in green hydrogen production

Milud Mojled, Director of Research and Forecasting at the Algerian Ministry of Energy and Mining, said that a budget of between $20 billion and $25 billion has been allocated for green hydrogen production.

Muglad said during a “Sabah Guest” session on Algerian Radio that the authorities are betting on the development of the hydrogen division to provide additional energy solutions with plans to develop natural gas transportation technology.

He referred to the production of 15,000 megawatts of solar energy by 2035, saying that 500 megawatts have been produced so far.

Muilad announced 7 petrochemical projects, including 4 foreign dealers, to increase processing capacity, including the conversion of phosphates to produce urea and ammonia, in addition to the Bejaia zinc project, which will raise the manufacturing industry from 30 to 50 percent, which will create wealth and added value .

He continued: “We are committed to extracting unconventional and internationally balanced energy sources, which is why Sonatrach has received $42 billion in research and development from 2023 to 2027.”

Muglad noted that Sonatrach has signed several contracts with international partners worth $6 billion, which will increase oil production from 190 million tons of oil equivalent. to 210 million toe, and increase gas production to more than 10 billion cubic meters. , which will block all requests.

Director of Economic Research and Forecasting highlights 16 discoveries of 100 million tons of oil equivalent that will increase Algeria’s oil and gas reserves, indicating interest in starting oil exploration on the coast, referring to the important oil field in Hassi Messaoud to be opened by the Prime Minister Ayman bin Abdelrahman.

Source: Algiers Radio.