Algerian President Abdelmadjid Tebboune
Algeria rearranges the deckchairs while the ship sinks
The country’s latest spat with a foreign investor is likely to be just as self-defeating as previous disputes
State-owned Sonatrach took the decision in April to revoke UK independent Sunny Hill Energy’s interest in the highly prospective Ain Tsila gas field on the grounds that Angelo Moskov—who controversially took over Irish producer Petroceltic in 2015 and changed its name to Sunny Hill—is more interested in a speculative investment than a long-term commitment to Algeria. The issue of compensation will now be decided in the arbitration courts. Unfortunately, however, this is only the latest self-inflicted damage to Algeria’s hydrocarbons sector and the country as a whole. 62pc – Domestic consumption share of Algeria’s gas production For decades, Sonatrach has played hardball with IOCs—whe
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