Sonatrach CEO Holds Parleys with Italian Foreign Minister: Decide to Explore New Ventures in Hydrocarbon

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 In July 2024, a memorandum of understanding was signed in Milan between Sonatrach, Sonelgaz and ENI to study a submarine electricity connection project between Algeria and Italy. This project is part of Algeria’s strategy to strengthen its role as a major supplier of low-carbon energy to Europe.

Italian Foreign Minister Antonio Tajani’s visit to Algeria is part of a drive to strengthen bilateral cooperation, particularly in the strategic sectors of energy, industry and agriculture. The meeting highlighted Algeria’s key role as a major energy supplier to Italy and Europe.

In the presence of Sonatrach CEO Rachid Hachichi and several executives from the Ministry of Energy, discussions focused on the cooperation between Sonatrach and ENI, which is considered historic and privileged. The parties assessed the progress of ongoing projects and explored new prospects in hydrocarbons, renewable energies and electricity connections. Emphasizing joint investments in hydrocarbon research, exploration, production, and developing the natural gas and hydrogen markets.

Mohamed Arkab reaffirmed Algeria’s commitment to ensuring an attractive investment climate, and the ENI representative Guido Brusco expressed the group’s satisfaction with its collaboration with Sonatrach and its interest in new opportunities in Algeria. The meeting was held on the sidelines of the Algerian-Italian business forum to boost economic relations between the two countries.

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In July 2024, a memorandum of understanding was signed in Milan between Sonatrach, Sonelgaz and ENI to study a submarine electricity connection project between Algeria and Italy. This project is part of Algeria’s strategy to strengthen its role as a major supplier of low-carbon energy to Europe. Antonio Tajani’s recent visit confirms the growing importance of energy cooperation between Algiers and Rome.