Liked on YouTube: Africa Against the EU Gas Price Cap! Algeria Applies for Membership of BRICS.丨Algeria Gas Supply

Algeria, Africa’s largest gas exporter, has spoken out against the European Union’s gas price cap, saying it would threaten upstream investment, according to a Dec. 20 report.
Algerian Energy Minister Mohamed Arkab said his country “does not support the idea of a price cap.” “The energy market must remain free so that upstream investments can continue,” he said at a news conference. Algeria is seen as a reliable and secure supplier to Europe and we have agreed with our European partners on long-term pricing.”
The Kremlin has also harshly criticized the mechanism, saying it “undermines the market pricing mechanism.” The European Union, once Russia’s largest gas exporter, has closed its gas valves to Europe in retaliation for a series of harsh sanctions imposed on Russia by the West.
Prior to the Russia-Ukraine conflict, Algeria supplied about 11 percent of Europe’s natural gas. In recent months, European officials have been visiting Algeria to seek supply deals to help reduce dependence on Russia.