Experts: The Algeria Declaration is a successful step towards global energy stability – Algerian Dialogue

Economic experts confirmed that the Algeria Declaration emanating from the seventh summit of heads of state and government of the Gas Exporting Countries Forum, held yesterday, Saturday, constituted a “successful” step on the path to energy stability at the global level.
The experts who met with Waj after this summit, which was held at the International Conference Center “Abdul Latif Rahal,” considered that the declaration ratified by the heads of states and governments of the forum embodied the success of the summit in formulating a common vision that lays the foundations for market stability by stimulating the gas industry.
In this context, Noureddine Lajleel, an analyst at the Stockholm Stock Exchange (Sweden), considered that the outcomes of the Algeria summit were “very positive,” as they represented a gain for the gas industry in the world, which would strengthen producers in the global energy scene.
He added that the Algeria Declaration is a step that consolidates the forum’s role as a “power” in the market, in light of its embrace of the major countries producing this energy.
Mr. Laghleel considered that despite the gravity of the challenges in light of the difficulties facing the raw materials markets, the political will of these countries expressed in this summit makes the difference.
In turn, the Dean of the Faculty of Hydrocarbons and Chemistry at the University of Boumerdes, Boudjemaa Hamada, confirmed that the Algiers Declaration document lived up to the level of aspirations, as it came in the form that everyone was waiting for, which makes the Algiers summit an “exceptionally successful” summit.
Mr. Hamadeh considered that among the success points of the Algeria summit, it included all dimensions of the gas industry, from investments and securing supplies in the market to the technological aspect. It also highlighted this sector as a factor of stability and reassurance for both energy exporting and consuming countries.
For his part, the economic expert, Farid Ben Yahia, explained that the “Algeria Declaration” defends the interests of producing countries in light of the prevailing global trend towards reducing the role of gas as a fossil resource, even though it is clean energy that guarantees global energy security.
Thus, this summit represents a building block towards achieving a balance of visions between producers and consumers, in a way that takes into account the right of countries to development and benefiting from their wealth, the necessity of ensuring stable and safe supplies, as well as the environmental concern and the importance of working to reduce the phenomenon of global warming, according to the expert.
In the context of the high global demand for gas, investments in this sector must be increased, as producing countries must spend more than 9 thousand billion dollars to meet the needs of the markets, says Mr. Bin Yahya, based on the latest studies.
As for the Arab expert Guini, he considered that the Algeria Declaration was “comprehensive and responds to all the concerns raised,” since, while it affirmed the commitment of producing countries to adopt environmental standards, it rejected restrictions on the gas industry.
In parallel with the Algeria Declaration’s inclusion of “the necessity of opening a constructive and fair dialogue between producing and consuming countries,” this document opened the door wide for cooperation between producers, as countries that have experience in production, such as Algeria, accompany other new countries in the energy arena, such as Mauritania and Senegal, which is what It is also considered one of the strengths of the Algeria Summit.