Primary energy balance deficit down 2% at end November 2023

The primary energy balance shows at the end of November 2023, a deficit of 4.3 Mtoe, recording a decrease of 2% compared to the end of November 2022, (taking into account the royalty) according to the monthly report on the energy situation of November 2023, published on Monday by the National Energy and Mines Observatory. This decline is mainly due to the decrease in demand for primary energy. The energy independence rate, which represents the ratio of primary energy resources to primary consumption, stood at 49% at the end of November 2023, recording virtual stability compared to the same period of the previous year. Without accounting for the fee, the energy independence rate would be limited to 38% at the end of November 2023 compared to 39% at the end of November 2022. According to the observatory, primary energy resources stood at 4.1 Mtoe at the end of November 2023, thus recording a drop of 5% compared to the same period of the previous year. This decrease is mainly due to the drop in national pr oduction of crude oil and natural gas. Primary energy resources thus remain dominated by the national production of oil and gas, which both represent 73% of total primary energy resources. As for the demand for primary energy, it decreased between the end of November 2022 and the end of November 2023 by 4%. Demand for natural gas fell by 4% while that of petroleum products recorded a drop of 3%. Note that demand for natural gas fell by 4% following the limitation of Algerian gas purchases. To meet the entire national electricity demand, STEG has turned towards electricity imports. The structure of primary energy demand has not recorded any change. Indeed, the share of petroleum products recorded a virtual stability at 48% between the end of November 2023 and the end of November 2022. Likewise, the share of natural gas recorded a virtual stability at 52% during the same period. The share of renewable electricity (STEG production only) remains modest and represents only 1% of primary resources. For the Alg erian gas transit fee, it recorded a drop of 3% at the end of November 2023 compared to the same period of 2022. Source: Agence Tunis Afrique Presse