The energy trade balance deficit jumped by 83% to 9235 MD between the end of November 2021 and the end of November 2022, (taking into account the exported Algerian gas royalty), according to the monthly report on the energy situation for the end of November 2022, published on Tuesday by the National Observatory of Energy and Mines, under the Ministry of Industry, Mines and Energy.
Exports of energy products have recorded an increase in value of 47% accompanied by an increase in imports in value also of 70%, according to the same source.
In addition, taking into account the royalty, the deficit of the primary energy balance increased by 7% at the end of November 2022 compared to the end of November 2021, reaching 4.4 Mtoe (megatons of oil equivalent). This rise is mainly due to the fall in hydrocarbon production, with little change in primary energy demand.
The energy independence rate, which represents the ratio of primary energy resources to primary consumption, stood at 50% at the end of November 2022 compared to 53% at the end of November 2021. Without taking into account the royalty, the energy independence rate would be limited to 39% at the end of November 2022 against 43% at the end of November 2021.
In fact, primary energy resources stood at 4.3 Mtoe at the end of November 2022, recording a fall compared to the same period of the previous year of 7%. This decrease is mainly due to the decline in the national production of crude oil. The primary energy resources remain dominated by the national production of oil and gas, both of which account for 75% of the total primary energy resources.
The share of renewable electricity (STEG production only) remains low and represents only 1% of primary resources. The fee for the transit of Algerian gas has changed by 7% at the end of November 2022 compared to the same period in 2021.
Primary energy demand fell slightly by 0.7% between the end of November 2021 and the end of November 2022: demand for natural gas fell by 2% compared with last year, while demand for petroleum products rose slightly by 1%.
Source: Tap News Agency