The signing of this memorandum further solidifies Algeria’s ambition to strengthen its position as a major energy supplier to Europe, now including electricity.
Collaboration for Feasibility Studies
On July 31st, Algerian groups Sonatrach and Sonelgaz signed a Memorandum of Understanding (MoU) with the Italian company Eni S.P.A.
Aim of the Project
The protocol will facilitate joint feasibility studies for an electrical interconnection project between the Algerian and Italian power grids through the construction of a submarine cable.
Creating an Energy Hub
This project, while still pending further studies, represents a pioneering initiative and will establish an energy hub connecting Algeria to Europe.
Strengthening Existing Cooperation
Moreover, it will reinforce the existing cooperation between Sonatrach and Eni, building upon the two strategic memoranda of understanding signed on January 23, 2023, in Algiers. These previous agreements aimed to define joint projects in the areas of energy supply, energy transition, and decarbonization.