Brussels, 11/04/2012 (Agence Europe) - “In negotiations with the EU on the strategic energy agreement, Algeria argued forcefully for increased European investment in gas and oil”, reports the national press agency APS, quoting “a source close to the matter”. In the agreement, “we argued for a return on energy investment through upstream and downstream partnerships”, said the same source, indicating that “the Algerian call struck a chord with the European side as it was included in the agreement which has been under negotiation for several years”. “Conclusion of the agreement has been delayed” because the need for “a legal framework was not an absolute necessity for the Algerian side, Algerian gas and oil was selling and continue to supply the continent of Europe in large quantities”.
The two sides now feel that this “strategic partnership which should increase investment in Algeria and guarantee supply for the EU” should now be sealed, APS states. Negotiations are now “at a very advanced stage” and the partnership could be formally signed in the coming weeks during the visit by the European energy commissioner that was scheduled for the start of April but postponed to a later date (probably because of the elections on 10 May). (FB/transl.rt)