The EU executive said the memorandum of understanding would set up a framework for the EU and Algeria to work together on gas and oil. He called energy “a priority area” of the Euro-Mediterranean partnership (see background).
“In this context, Algeria is a key partner for the EU, both at the bilateral and regional levels. Natural gas is a strategic issue for both parties: Algeria is a major supplier to Europe, while Europe is by far the largest customer of Algeria,” Barroso said in a statement.
The EU is keen to diversify its energy supplies. It already imports natural gas from Algeria.
However, efforts to tap Algeria’s solar energy potential appear to have faltered.
>> Read: Desertec abandons Sahara solar power export dream
The EU is Algeria’s top trading partner. In 2012 the exchanges were estimated at €50 billion, more than half of the global trade in Algeria, which exceeded €94 billion, Algerian government figures show.
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