North Africa represents one of the most important oil and gas producing regions in the world, and has the potential to be a renewable energy powerhouse as well. Its geographic situation makes it a crossroads between Europe, Africa and the Middle East, and an important transit corridor for global energy markets. Today, North African countries face a range of pressing socio-economic challenges, including solving the problems of poverty and high levels of structural unemployment, in the context of fast demographic growth. Energy is an essential commodity enabling socio-economic development. The current energy situation in the countries is characterized by a rapid increase of energy demand, low energy efficiency and low domestic energy prices due to extensive and universal consumption subsidies.
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