AFP: Important gas finds in Algeria this year

Algeria's state-run energy giant Sonatrach has made some "very important" natural gas discoveries this year, Energy Minister Youcef Yousfi said Monday, as the country battles dwindling exports from its vital hydrocarbons sector.

Yousfi gave few details on the size or location of the "extremely promising" new finds, saying only that they would be announced soon by Sonatrach.

"Algeria's natural gas reserves are not falling. They are in the process of rising," the minister told journalists in Algiers, denying speculation the OPEC country might be forced to halt gas exports due to growing local demand and limited upstream progress.

"Less than a week ago a discovery was made by Sonatrach in a region that has barely been explored," he added.  MORE