Algeria sees 2012 energy exports up 2.5 pct

Reuters    Translate This Article
13 October 2011

ALGIERS, Oct 13 (Reuters) - OPEC member Algeria expects the volume of its oil and gas exports to increase by 2.5 percent next year, according to a copy of the 2012 draft budget, recovering from a dip this year that some analysts said was caused by production problems.

The document, a copy of which was obtained by Reuters, also showed that energy export revenues were up 28.5 percent to $35.5 billion in the first half of this year against the same period in 2010.

There was no immediate explanation available for the projected increase in exports.

Algeria's government has said its revenues from energy exports would shrink 4.5 percent in 2011 against the previous year because of a cut in production.

It has not given a reason for the cut, but some analysts said it may be linked to a lack of new oil and gas projects and to problems with liquefied natural gas (LNG) production.

An accident on one of Algerian's LNG plants last year cut capacity for producing liquefied gas by as much as 20 percent.

(Reporting By Hamid Ould Ahmed)

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