Petroleum Africa
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Friday, August 2, 2024
Sonatrach and Sonelgaz have signed a Memorandum of Understanding (MoU) with Italian major Eni to jointly conduct feasibility studies for an electrical interconnection project between the Algerian and Italian electricity networks through the construction of a submarine cable, with a view to exchanging or supplying electricity to the Italian and European markets.
This highly strategic project will be a first and will create an energy hub linking Algeria to Europe.
Sonatrach states the MoU signed strengthens the existing cooperation between Sonatrach and Eni within the framework of the two strategic protocols of intent signed on January 23, 2023 in Algiers, which aimed to define future joint projects relating to energy supply, energy transition and decarbonization.
The conclusion of this MoU confirms Algeria’s ambitions to strengthen its position as a major supplier to Europe in terms of energy, including electricity.
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