Oil and gas exporter Algeria plans $63,5-billion in investment through 2013 to boost gas exports and maintain oil output capacity, energy and mines minister Chakib Khelil said on Tuesday.

Low oil prices were not stopping the investment, Khelil said, as Algeria was expecting a longer-term price of around $70-$80 a barrel, Khelil said.

"And we don't need that much for these projects to fly," he said. "We will need $40-$50."

U.S. oil prices stood at just under $47 a barrel on Tuesday, down $100 from a peak last July. Producer countries worldwide have stated that lower prices will hamper investment in expanding capacity.

Algeria's investment will allow the third largest supplier of natural gas to the European Union to boost total gas exports by over 60% by 2015, Khelil told a news briefing in Vienna.

Gas exports should rise to 100-billion cubic metres per year by then, from around 62-billion now, he said.