Algeria - (AFP) - Algeria, one of the most important gas exporters in the world, confirmed on Tuesday that it opposes the European Union's decision to set a ceiling for natural gas prices at 180 euros per megawatt hour, and Energy Minister Mohamed Arkab considered that "energy markets must remain free."

Arkab said on the sidelines of the Algerian-German Energy Day that "Algeria does not support the idea of capping prices, whatever the circumstances," adding that "energy markets must remain free to continue the achievements and investments in the source," as reported by the APS.

"We have agreements with our partners in Europe to supply them with energy, especially natural gas. Algeria is a reliable and safe supplier for Europe, and we are in full agreement with our European partners regarding long-term prices," he added.

Arkab spoke in the presence of the Minister Delegate at the German Ministry of Economy and Climate Protection, Franziska Brantner, noting that Berlin initially opposed the European Union's decision, fearing that the decision would push natural gas supplies towards more profitable markets in Asia.

But Germany finally voted in favor of the decision taken by the energy ministers of the European Union on Monday, after discussion and response among member states on this issue that lasted four months.

Arkab explained that "open, transparent, unrestricted and non-discriminatory gas markets are more than a necessity, as the development of investments depends on transparent and non-discriminatory legal frameworks supported by clear energy, financial and environmental policies in gas-consuming and transit countries."

He warned that the oil and gas industry "will be affected by the legislative changes introduced by the European Union," referring to carbon neutrality, which among its commitments is to reduce oil and gas use by 60 and 70 percent, respectively, by 2050 compared to 2019 levels.

Gas prices rose significantly after the start of the Russian invasion of Ukraine, reaching about 340 euros per megawatt hour in the summer.