BMI View: Algeria continues to dominates the African gas market. We expect that the country will progressively switch towards a higher proportion of LNG use for its exports as pipeline consumers in Europe are expected to see a flattening demand over the coming years. These exports will be fuelled by a steadily growing gas production, coming from projects such as Timimoun or Touat set to come online in the next few years. Adoption of new hydrocarbons regulation in January 2013 could spur exploration in Algeria in the coming year, especially in offshore and unconventional acreages. We are nonetheless sceptical about …
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