The Sonatrach Group and the Norwegian company ICA Finance AS signed a memorandum of understanding in Oran on Tuesday, with a view to exploring opportunities for cooperation in areas of mutual interest supporting initiatives to reduce greenhouse gas emissions, according to a Sonatrach press release.
The signing ceremony took place at the Centre des Conventions d'Oran (CCO) Mohamed-Benahmed, on the sidelines of the 12th edition of NAPEC, in the presence of Sonatrach Group CEO Rachid Hachichi and Norwegian Ambassador Therese Loken Gheziel.
ICA-Finance AS is a Climate Investment Fund, which supports energy companies to identify, develop, finance and implement projects aimed at reducing greenhouse gas emissions from oil and gas operations, it was noted.
The memorandum is in line with Sonatrach's climate strategy, which aims to play a major role in the medium- and long-term energy transition process.
The memorandum also aims to develop and export new energy solutions by creating an energy hub in Algeria, capable of providing the necessary support for the energy transition.
