Russia and Algeria Sign Energy Cooperation Agreement

Russia and Algeria, Europe’s two biggest suppliers of natural gas, signed an energy cooperation agreement that the European Union has pledged to monitor because of concerns it may develop into a cartel-like alliance.

Russia, the world’s largest gas producer, supplies a quarter of Europe’s gas and Algeria almost 10 percent. The cooperation between the two countries will be “at all levels, from exploration to marketing,” Algerian Energy Minister Chakib Khelil told Bloomberg after the signing ceremony with his Russian counterpart Viktor Khristenko in the Algerian capital Algiers.

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