15th international Energy Forum.2jpgAlgeria "is constantly striving" to establish a "true spirit" of dialogue and consultation between various players on the global and regional energy scene, stressed Tuesday in Algiers Prime Minister Abdelmalek Sellal.

"Algeria is currently striving to establish a true spirit of dialogue and consultation between various players on the global and regional energy scene," Sellal stressed in a speech he delivered at the opening ceremony of the 15th International Energy Forum (IEF15).

He added that "this need for dialogue and mutual understanding has never been so important" since the beginning of this century marked by a "striking paradox," highlighting the importance of "a perfect knowledge of global challenges, an unequalled rapidity in movement of persons and information as well as the intense development of human capacities."

Besides, the Premier stated that "faced with this situation, we have noticed a frustrating inability to spread peace, improve the living conditions of populations and boost the global economy, which experiences a permanent difficulty, and build a common home and hand it down to our children."

For Sellal, "in this tormented and uncertain world, we must refuse fatalism and resignation, and view the future with optimism and determination."

In this regard, he affirmed that this forum is a "message of hope" and "surely" contributes to this positive momentum of trust. This meeting is likely to "stabilize" the market, boost global economy's growth and finally "work for the well-being of citizens in the whole world."

After a quarter-century of existence, this forum must focus on ways and means to "promote" the global energy dialogue, the Premier affirmed.

He added that the IEF15 provides "a true opportunity" to exchange and agree on "global sustainable perspectives."

Sellal stressed that Algeria "will spare no effort" to reach this goal and invited all players to "resolutely follow this path."

Algeria willing to reach "just, reasonable" price

Sellal affirmed that Algeria is willing to reach a "just and reasonable" price allowing investments in energy, payment of producers, consumers supply security and markets stability, adding that the main energy players "must reach an agreement on production levels to sustainably increase prices."

"Failing which, markets will witness serious disruptions that would jeopardize viability of oil industry and cause economic recession", he stressed.

Despite "severity of the oil shock" that has reduced by half its revenues, Algeria "resists" and its macroeconomic indicators "remain relatively stable," Sellal affirmed, stating that reforms launched part of the new growth model must "put our economic governance modes in line with international standards in terms of efficiency and rationality."

APS, 27/09/16