Algeria Changes Laws to Boost Shale Gas

Algeria has approved changes in its hydrocarbons law, giving more tax advantages to foreign investment in non-conventional hydrocarbons.

"The council of minister examined and approved a project to modify the (2005 hydrocarbons law).with tax incentives to encourage the exploration and exploitation of hydrocarbons in little development areas or those requiring complex means," Dow Jones quoted a press release from country's presidency.

The move comes as a part of a push to attract investment in the country's shale gas reservoirs.

Earlier this year, state owned Sonatrach decided to work with Royal Dutch Shell and Exxon Mobil Corp in shale gas exploration.