Visiting Algeria, French President Nicholas Sarkozy is trying to put aside controversy over their colonial past and concentrate on the increasing economic ties between the two countries.
Accompanied by more than 100 French business leaders and various politicians, including five senior cabinet members, Sarkozy said the trip should result in as much as five billion euros worth of business contracts. They include major investments in Algeria's energy industry by French firms Total and Gaz de France. France is also extending its contract to buy Algerian gas to 2019.
Last year Algeria exported 84 billion cubic metres of gas, through pipelines and also as liquefied natural gas on tankers. Italy is the biggest customer, buying almost 28 billion cubic metres, followed by Spain with nearly 12 billion and France at nearly eight billion.
Sarkozy said the investments by Total and French state utility GDF - particularly with the Algerian oil group Sonatrach - will create around 7,000 jobs in Algeria. He added they "could lead very soon" to France becoming the country's largest foreign investor. Talking about various projects underway Sarkozy said: "We need to move forward without delay, on the specifics of energy interdependency."
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