oil and gas

Deficit of primary energy balance widens by 9% year-on-year at end September 2022

December 1, 2022

(TAP) - The primary energy balance deficit went up by 9% at the end of September 2022 compared to the same period in 2021. This increase is mainly due to lower hydrocarbon production; the demand for primary energy has changed a little, reads the monthly report on the energy situation at the end of September 2022, published by the National Observatory of Energy and Mines.

Taking into account the royalty, the primary energy balance sheet shows a deficit of 3.7 Mtoe at the end of September 2022, compared to 3.4 Mtoe at the end of September 2021. The rate of energy independence, which represents the ratio of the resources of primary energy by primary consumption, reached 49% at the end of September 2022 against 53% in the same period in 2021. Whereas, without counting the royalty, the energy independence rate would be limited to 38% at the end of September 2022 compared to 43% at the end of September 2021.

According to the same source, primary energy resources stood at 3.6 Mtoe at the end of September 2022, recording a drop of 7% compared to the same period of the previous year. This decrease is mainly due to lower domestic crude oil production. Primary energy resources remain dominated by the domestic oil and gas production, which both account for 75% of all primary energy resources.

The share of renewable electricity (STEG production only) remains low and represents only 1% of primary resources.

As for the demand for primary energy, it increased slightly by 1% between the end of September 2021 and the end of September 2022, rising from 7.25 Mtoe to 7.29 Mtoe. The demand for natural gas kept almost the same level as the previous year, while that for petroleum products grew 2%.

The demand for natural gas dropped slightly by 0.3% after purchases of Algerian gas were limited to contractual purchases. To meet and cover all of the domestic demand for electricity, STEG has relied on electricity imports. The structure of primary energy demand recorded a slight change. The share of demand for petroleum products fell from 46.2% at the end of September 2021 to 46.8% at the end of September 2022. Demand for natural gas fell slightly from 53.4% to 52.9%.

tap.info

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