The primary energy balance showed a deficit of 1.2 million tons of oil equivalent (Mtoe) at the end of March 2024, taking into account the fee for the transit of Algerian gas, up 3% compared with the end of March 2023, according to the energy situation report published on Thursday by the National Observatory of Energy and Mines.
The energy independence rate, which represents the ratio of primary energy resources to primary consumption, stood at 44% at the end of March 2024, compared with 48% at the end of March 2023.
Excluding royalties, the energy independence rate would be limited to 34% at the end of March 2024, compared with 38% at the same time in 2023.
Primary energy resources (oil + condensate, national gas, Algerian gas royalty, LPG fields + Gabes plant and primary electricity) stood at 0.95 Mtoe at the end of March 2024, down 13% compared to the same period last year. This decrease is mainly due to the decline in national natural gas production.
Primary energy resources remain dominated by national oil and gas production, both of which account for 72% of total primary energy resources.
The share of renewable electricity (STEG and private production and self-generation) remains low, representing only 2% of primary resources.
The fee for the transit of Algerian gas decreased by 2% at the end of March 2024 compared to the end of March 2023.
The demand for primary energy (oil products, natural gas and primary electricity) decreased by 5% between end-March 2023 and end-March 2024. Demand for natural gas falls by 11%, while demand for oil products remains almost unchanged.
The fall in demand for natural gas is the result of restrictions on the purchase of Algerian gas.
In order to meet the total domestic demand for electricity, STEG has resorted to importing electricity.
The structure of primary energy demand changes slightly, with the share of oil products increasing from 48% at the end of March 2023 to 51% at the end of March 2024.
The share of natural gas went down from 51% at the end of March 2023 to 48% at the end of March 2024.
