Algerian Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, held bilateral talks on Monday with the Secretary-General of the International Energy Forum (IEF), Jassim Al-Shirawi, where they conducted an in-depth analysis of developments in the oil and gas markets amid current fluctuations, as well as the challenges related to energy security and the energy transition.
The meeting was held at the headquarters of the IEF in Riyadh, in the presence of the Ambassador of Algeria to the Kingdom of Saudi Arabia and officials from both sides, and took place on the sidelines of the 21st General Conference of UNIDO.
It provided an opportunity to review the current state of cooperation between Algeria and the International Energy Forum and to explore ways to develop it in line with the profound transformations taking place in the global energy sector, the Algerian Ministry of Hydrocarbons and Mines said in a statement.
During the talks, the two sides conducted an in-depth analysis of developments in the oil and gas markets amid current fluctuations, as well as the challenges related to energy security and the energy transition. In this context, Arkab reaffirmed Algeria’s steadfast support for the International Energy Forum, highlighting its role as the largest global gathering of energy ministers and a central platform for dialogue between producing and consuming countries, whose members account for more than 90% of global oil production, the statement said.
The Minister emphasized the importance of strengthening cooperation within this multilateral framework by expanding consultations, coordinating positions, and intensifying joint efforts to contribute to market stability and encourage long-term investment in the oil and gas sectors. He also stressed the need to enhance partnerships in training, knowledge exchange, and human capacity development, in addition to deepening dialogue on ways to leverage modern technologies to ensure a balanced energy transition that reconciles energy security with development needs, the source added.
For his part, the Secretary-General of the International Energy Forum praised Algeria’s active role within the Forum, highlighting the high level of dialogue during the 15th Ministerial Meeting of the Forum held in Algeria in 2016, which resulted in the “Algiers Agreement” that later laid the foundation for the Declaration of Cooperation between OPEC and non-OPEC countries (DoC). Al-Shirawi also underscored the urgent need for sustainable, long-term investment in the hydrocarbons sector to meet the steadily rising global demand for oil and gas, calling for a pragmatic approach based on a balanced energy mix that integrates conventional and renewable energy sources alongside clean technologies.
At the conclusion of the meeting, Arkab extended an official invitation to the Secretary-General to visit Algeria as part of efforts to strengthen the bilateral partnership and further develop cooperation with the International Energy Forum. Both sides expressed their determination to continue working together to support global market stability and enhance international cooperation in the energy sector.
