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Algeria is looking to cast itself as a critical supplier of natural gas for European countries seeking to lessen their dependence on Russia as it welcomed Thursday envoys from energy rich nations to a key summit. For three days, Algeria will host leaders from 13 other nations in its capital of Algiers, including Russia, Iran, Qatar and Venezuela as the industry confronts waning demand for oil and gas and new competition from renewable energy sources. Officials have also indicated the summit will provide a venue to showcase Algeria's growing role as a secure and reliable energy supplier.

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Algeria will flex its muscle as a critical supplier for European countries seeking to lessen dependence on Russian gas as it welcomes leaders from other energy rich nations to a summit in Algiers this week

Algeria is looking to cast itself as a critical supplier of natural gas for European countries seeking to lessen their dependence on Russia as it welcomed Thursday envoys from energy-rich nations to a key summit.

In a square near the center of Algiers, currency traders carry wads of euros, pounds and dollars, hoping to exchange them to those worried about the plummeting value of the Algerian dinar. This black market for foreign currencies is among the signs of the economic woes plaguing Algeria. The state, reluctant to allow the exchange…