Sonatrach and Eni Ink Deal to Boost Energy Cooperation
Algeria’s state-owned energy company Sonatrach and Italian multinational Eni have formalized a new agreement aimed at strengthening collaboration in the energy sector. The memorandum of understanding was signed in Rome on Wednesday, July 23rd, coinciding with the official visit of Algerian President Abdelmadjid Tebboune to Italy, according to a statement released by Sonatrach.
Broadening Energy Partnership
The agreement focuses on enhancing cooperation across hydrocarbons, energy transition initiatives, and renewable energy development. Rachid Hachichi, CEO of Sonatrach, and Claudio Descalzi, CEO of Eni, signed the protocol under the supervision of President Tebboune and Italian Prime Minister Giorgia Meloni. The agreement highlights the shared desire of both parties to deepen their partnership, with the goal of ensuring sustainable economic development and bolstering energy security for both Algeria and Italy.
In conclusion, this agreement signifies a strengthened alliance between Sonatrach and Eni, paving the way for increased collaboration on various energy projects and contributing to the long-term energy security of both nations. The focus on sustainable development and renewable energy also indicates a forward-looking approach to energy cooperation.
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