The energy trade deficit increased from TND 1059 million at the end of February 2022 to TND 1783, at the end of February 2023, up 68% (taking into account royalties from exported Algerian gas), according to the monthly report on the energy situation for the month of February 2023 published by the National Observatory of Energy and Mines.
The report also showed the value of exports of energy products fell by 46% compared to the end of February 2022, reaching 438 million dinars. Crude oil exports fell by 48% in volume (165 kilotons) and 51% in value (295 million dinars) compared to the same period last year.
The value of imports increased by 19% to 2221 million dinars, while the quantity of imported petroleum products increased by 5% (535 kilotons) and its value grew 22% (1312 million dinars) compared to the end of February 2022. At the end of February 2023, purchases of Algerian gas also increased by 3% in volume to compensate for dropping production.
As for the deficit in the primary energy balance, it increased by 6% compared to the end of February 2022, reaching 0.82 megatons of oil equivalent (Mtoe).
The observatory said this increase is mainly due to the decrease in hydrocarbon production.
As for the energy independence rate, which represents the ratio of primary energy resources to primary consumption, it stood at 46%, compared to 51% at the end of February 2022.
Primary energy resources decreased by 14% compared to the same period of the previous year, reaching 0.7 Mtoe, mainly due to the decrease in national production of crude oil and natural gas.
Primary energy resources continue to be dominated by domestic production of oil and gas, both accounting for 77% of total primary energy resources, while the share of renewable electricity (STEG production only) remains low, accounting for only 1% of primary energy resources.
It should be noted that the fall in demand for natural gas is due to the restriction on purchases of Algerian gas. In order to meet the entire national demand for electricity, STEG relies on electricity imports.