Algerian President Abdelmadjid Tebboune has confidently stated that Algeria is no longer dependent on the price of a barrel of oil, announcing a strategic diversification of the country’s economy. During a meeting with representatives of the national press, he outlined ambitious projects aimed at reducing Algeria’s reliance on traditional energy resources.
In a global context marked by fluctuating oil prices, Tebboune emphasized that Algeria is now taking a decisive turn toward economic diversification. “We are no longer captives of the oil barrel price,” he declared. The country is shifting toward alternative energy sources, with plans to export hydrogen, unconventional electricity, and even conventional electricity. These initiatives will be supported by a third pipeline, specifically the SoutH2 pipeline, which will supply Italy and Germany, as well as Tunisia and Austria.
“We are working on a third pipeline, the study for which should soon be completed, through which we will export hydrogen, unconventional electricity, and perhaps even conventional electricity. All of this will be done through a major pipeline to Germany and Italy. So, we are on a new path. We are no longer prisoners of the oil barrel price,” the Algerian head of state affirmed.
🇩🇿🇮🇹🇩🇪« Nous ne sommes plus prisonniers du prix du baril »
— UA. (@UnionAlgerienne) March 22, 2025
Le président Tebboune évoque le troisième pipe algérien fournissant de l'hydrogène et de l'électricité à l'Italie et à l'Allemagne. pic.twitter.com/2znjHzmo86
Algeria: A Strategic Economic Diversification
The president presented a long-term vision to ensure Algeria’s energy security while strengthening trade relations with European countries. This new energy direction offers an alternative to oil and gas exports, which are too vulnerable to global price swings. According to Tebboune, this diversification is crucial for ensuring economic stability and preparing for the future.
“We are diversifying our production because it’s necessary and because governing means planning ahead. I’m not satisfied with just the present. Today, everything is fine, but what will we be tomorrow, the day after, in five years, or in six years?” he added, before addressing the significant challenge of job creation facing Algerian authorities.
Tebboune also highlighted the importance of job creation in light of population growth and the rising number of university graduates. Each year, Algeria produces around 250,000 graduates, and according to the president, the country will need to create 1.25 million jobs over five years to accommodate this workforce. To achieve this, the government is betting on entrepreneurship, supporting startups and self-employed individuals. Measures are being implemented to encourage investment, boost the local economy, and secure professional opportunities for the younger generation.
A Future Driven by Entrepreneurship and Innovation
Additionally, Tebboune announced significant adjustments to the social system, including an increase in unemployment benefits to support citizens in precarious situations, particularly during this economic transition. These measures aim to ease social tensions while steering the country toward a more modern and resilient economy.
“If we calculate 250,000 graduates per year, over five years, that’s 1.25 million jobs we need to create for these graduates. That’s why we’re investing in startups and self-entrepreneurship. On top of that, we’re heavily encouraging investments to generate as many jobs as possible, while also securing the unemployed with an unemployment allowance that we’re going to increase,” Tebboune further explained.
