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Italian oil and gas major Eni and Algeria’s Sonatrach have signed strategic agreements to accelerate emissions reduction and strengthen energy security.
Eni said that, through the agreements, the two companies would identify opportunities for the reduction of greenhouse gas and methane gas emissions.
They will also define energy efficiency initiatives, renewable energy developments, green hydrogen projects, and carbon dioxide capture and storage projects to support energy security and at the same time a sustainable energy transition.
Also, they will conduct studies to identify possible measures to improve Algeria’s energy export capacity to Europe.
The agreements were signed by Eni CEO Claudio Descalzi and the CEO of Sonatrach Toufik Hakkar in Algiers earlier this week. The two agreements outline future joint projects on energy supply, energy transition, and decarbonization.
The agreements were signed in the presence of the Prime Minister of Italy Giorgia Meloni and the President of the People’s Democratic Republic of Algeria Abdelmadjid Tebboune.
“These agreements bear witness to our commitment to ensuring Italy’s security of supply while at the same time pursuing our decarbonization objectives. The partnership between Italy and Algeria gets stronger today, and Algeria’s key role as one of Europe’s main energy suppliers is confirmed,” Eni CEO Claudio Descalzi said.
Eni has been present in Algeria since 1981. With an equity production of 100,000 barrels of oil equivalent per day, Eni is the main international company in the country.
