In a move to diversify its energy resources, France significantly boosted its purchases of fuel from Algeria during the first half of 2023.
Imports of Algerian gas to France surged by a staggering 92% to reach $1.6 billion.
French imports of Algerian gas increased by 92.1% during the first half of 2023, according to data from French customs reported by “La Lettre économique d’Algérie,” a magazine affiliated with the French Ministry of Economy and Finance.
The value of these purchases amounts to $1.6 billion and represents half of France’s total gas imports from around the world.
France also imported oil valued at $1.03 billion and oil derivatives worth $501.7 million. In total, hydrocarbon imports increased by 35.1% compared to the same period in 2022.
Trade between the two countries increased by 17.6% during the first half of 2023, totaling €5.8 billion.
France’s imports of Algerian goods rose by 23% to reach €3.6 billion.
France’s efforts to diversify its energy supplies come in response to a decrease in Russian gas shipments.
The Russian side introduced a program requesting that importers pay for Russian energy resources in rubles, a move many European countries are hesitant to comply with in response to sanctions imposed by the European Union for over a year.
