26-08-04

The visit paid by Energy and Mining Minister, Chakib Khelil to Washington allowed to determine the situation of oil and gas co-operation, more particularly between Sonatrach and the American oil firms, and to examine the prospects offered to develop this co-operation. During his visit, Chakib Khelil met ExImBank president, Philip Merrill, and the presidents of Anadarko and BP-Algeria, James Hackett and David Nagel.
During his meeting with ExImBank chief, Khelil who spoke about his last visit to Peru and Chile to inaugurate Camisea gas pipeline, indicated that the liquefaction of the Peruvian LNG and the construction of an LNG terminal in Chile offered possibilities for ExImBank to be present in these projects.

Khelil informed ExImBank president of the opportunities offered to the American companies through bids launched by Sonatrach and Sonelgaz in addition to the prospects of a growing exports for the Algerian LNG towards the United States. Merrill expressed in his turn ExImBank interest for the financing of projects related to gas liquefaction in Peru and Algeria and for a possible terminal in Chile.

The head of ExImBank, who paid earlier a visit to Algeria, said he is "optimistic" concerning the promising prospects offered by the Algerian economy for the development of the Algerian-American co-operation.

During his stay, Algeria's Energy Minister also met his American counterpart, Spencer Abraham, as well as presidents of American oil and gas firms, namely Anadarko, BP, Amerada Hess, Tractebel, Freeport Mcmoran, and representatives of the State department and the Overseas Private Investment Corporation (OPIC).

The Minister's visit in Washington was also a good opportunity for him to present, before the leaders of many firms, the positive progress of the great economic balances in Algeria in the context of a growth estimated at 7 %. A record, he underscored, for the countries of the south of the Mediterranean, added to a weak rate of inflation and a cut in unemployment.

Speaking about the great projects of the Algerian energy and mining sector such as its opening on operations of development or transportation of oil and gas in Latin America, Africa and in the Mediterranean basin, the Minister insisted on the large possibilities of participation in bids and partnership, offered to the American firms.

Speaking in his turn, Anadarko president, called upon the positive experience of his company, referring to Algeria as the best example being "a country which was and remains the first partner of the United States in economy."

Source: Algérie Presse Service