Energy Report: Primary Energy Resources Down 15% in June 2024
According to a report by the General Directorate of Strategies and Vigilance and the National Observatory of Energy and Mines, titled "Energy Outlook," primary energy resources stood at 1.9 Mtep as of June 2024, marking a 15% decrease compared to the same period in the previous year. This decline is mainly attributed to the reduction in national crude oil and natural gas production.
Meanwhile, the share of renewable electricity (STEG and private production, as well as self-generation) remains marginal, accounting for only 2% of primary resources.
Between June 2023 and June 2024, natural gas demand decreased by 3%, while demand for petroleum products increased by 2%. The 3% decline in natural gas demand is linked to the limitation of Algerian gas purchases, which forced STEG to import electricity to meet national demand.
Taking into account the royalty, the primary energy balance shows a deficit of 2.4 Mtep as of June 2024, representing a 16% increase compared to the same period in 2023. The energy independence rate, which represents the ratio of primary energy resources to primary consumption, stood at 44% as of June 2024, down from 52% in June 2023.
Without taking into account the royalty, the energy independence rate would be limited to 33% as of June 2024, compared to 41% during the same period in 2023.
