Sonatrach will launch a pilot project for developing unconventional gas resources in 2012 in Algeria.
According to company sources, Sonatrach is ready to go in to it alone if they don’t find a partner. Algeria supplies about 20 per cent of Europe's natural gas , but Algeria has under-invested in new oil and gas projects. It normally takes between five and eight years for shale gas projects to come on line. Sonatrach plans to invest US$46 billion in upstream activity in the medium term.
ENI to partner
ENI is looking into Algeria's shale gas opportunities, an executive at the Italian company said Wednesday, making it one of the first international companies to signal its interest for North Africa's unconventional resources.
The interest is also part of a broader strategic diversification within ENI. In December, it entered the European shale gas market with an acquisition in Poland.