Algerian Radio
Sonatrach signed a Memorandum of Understanding (MoU) today, Wednesday, with the German company VNG AG, aimed at exploring cooperation prospects in areas of mutual interest, specifically green hydrogen and the reduction of methane emissions, according to a statement from the group.
The signing ceremony took place at Sonatrach's headquarters, in the presence of the CEO of the Sonatrach group, Noureddine Daoudi, the Chairman of the Executive Board of VNG AG, Mr. Ulf Heitmüller, and Mr. Hans-Joachim Polk, a member of the company's executive board, the statement added.
This MoU falls within the framework of ongoing discussions initiated by both parties following the memorandum of understanding signed between them on December 20, 2022.
Under this new agreement, both parties intend to explore new avenues for integration and cooperation through the implementation of concrete actions, particularly in the development of green hydrogen and ammonia projects, as well as strengthening cooperation in reducing methane emissions.
The MoU reflects "the level of mutual trust between the two parties and confirms their shared commitment to addressing the specific challenges faced by the hydrocarbon sector in the field of decarbonization."
It also embodies "Sonatrach's keenness and determination to support the transition toward neutral energy sources and contribute to global efforts aimed at combating climate change," according to the same source.
