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EU, Algeria to Develop Renewable Energy Projects

The European Union(EU) will develop renewable energy projects with Algeria, said an EU official here on Monday, stressing the key role of Algeria in fighting terrorism and maintaining security and stability in the region.

“Undoubtedly, Algeria and the EU share a good partnership in energy, as 90 percent of Algerian gas exports go to Europe, and we know we can count on Algeria because it has always been a reliable partner for Europe, especially during tough times,” said Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, in a statement following talks with the Algerian President Abdelmadjid Tebboune.

Stressing the large potential of Algeria in the field of renewable energy and the importance of bilateral cooperation in gas, Borrell further expressed his hope for settling all trade problems with Algeria, in a bid to boost trade exchange between the two parties.

Noting that the both sides could “do better”, he called for solution of the trade crisis with Spain and the hurdles that hinder European investments in Algeria.

Lauding Algeria’s “key” role in fighting terrorism in the region, Borrell said that the EU has agreed to re-launch the high-level security dialogue with Algeria, as the first meeting should be held before the end of the year.

In 2013, Algeria and the EU signed a memorandum of understanding on cooperation in such areas as oil and gas, renewable energy, and energy efficiency, as well as the legal and regulatory framework.

For now, the EU relies on Algeria as a main gas supplier amid the Ukraine crisis.