Tunisia has secured a US$154 million financing agreement to support the import of additional natural gas.
This follows an earlier government announcement in January of plans to increase natural gas production this year, from 35 000 barrels of oil equivalent per day (boed) to 65 000 boed, in order to meet national demand, as reported by Reuters.
The US$154 million was secured by the Tunisian Company of Electricity and Gas through the International Islamic Trade Finance Corporation.
According to a Nerve Africa report, as of 2014, around 95% of the country’s electricity was generated by natural gas. Insufficient supply, however, has necessitated imports from Algeria.
In a bid to reduce the country’s reliance on natural gas, the government is also looking to attract some US$2 billion in foreign investment to produce 1 900 MW of renewable energy by 2022.
