Europe's attempts to wean itself off Russian gas have given Algeria a shot in the arm
Flush with energy revenues after Russia's invasion of Ukraine sent demand for its oil and gas soaring, authorities are spending more on social benefits and taking a more assertive stance abroad, pivoting from years of declining wealth and the political upheaval of a mass protest movement.
A sharp decline in energy revenues and foreign currency reserves after oil prices plunged in 2014 had meanwhile forced sharp cuts to public spending that risked sparking further unrest. Tebboune has promised to do so and has moved to boost trade with some African countries, but government efforts to open up one of the world's most closed economies have so far made little headway.
Rules to encourage foreign involvement in Algeria's energy sector have helped increase investment and develop new projects. Algeria withdrew its ambassador as a result and cut some trade. Though it has made clear it will honour the terms of its gas supply contract, it seems in little mood to be generous in approaching scheduled pricing talks.
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