At a recent conference held at his new office, Sonelgaz President and CEO of Mohamed Arkab revealed that he had many challenges set in front of him, including financial issues.

"We have a management team at Sonelgaz and we will be able to cope with the difficulties, and we have been able to cope with all the difficulties caused by the heat wave that has been recorded since last June," Arkab said. "Now we have some financial challenges, and we will discuss them to find the right solutions."

The meeting included Arkab stating that there was no chance that external debt would be used.

"The use of external indebtedness is totally dismissed," Arkab said. "Sonelgaz has the means to carry out programs drawn and each time the group will revise its programs by setting priorities."

Arkab touched on the controversy around the electricity prices and said that the company sets a "fair price" for "large consumers." He explained why the prices may be considered high in some cases.

"We have every means to know the volume of consumption and to identify who consumes the most, and who must, therefore, pay more," Arkab said.

For more on the meeting, visit El Watan.com.