This visit served as the launch for a specific Energy Charter project, initiated and supported by the German government and implemented by the Energy Charter Secretariat. The project's objective is to strengthen the energy dialogue and cooperation between the countries of North Africa and the Middle East (MENA) region. The ultimate goal is to create a reliable framework for energy investments in the MENA region on the basis of the Energy Charter Treaty (ECT) and the experience and best practices developed in the ECT member countries. It is expected that the first phase of this project will be successfully completed by mid-2013.
This cooperation will be consistent, in particular, with the Desertec Industrial Initiative (DII) focused on the development of renewable energy resources in the MENA region.
Algeria is an important exporter of oil and natural gas and is a member of the Organisation of the Petroleum Exporting Countries (OPEC). 74% of its total energy production is exported and accounts for up to 90% of the country's GDP. Algeria has great potential in the development of renewable energy sources, particularly solar energy technology.
The Energy Charter Treaty is a unique intergovernmental instrument in the energy field, providing binding ground rules for energy trade and transit and the promotion and protection of investments for all producing, consuming and transit member countries. The ECT brings together 51 states; 24 observers are in the process of acceeding to the Treaty. Algeria participates in the Energy Charter's activities as an observer since 1995.