Sonatrach, Sonelgaz Sign Historic MoU with Eni for Undersea Cable Project Linking Algeria to Europe

✏️ BY: Dr. Hana Saada

Algiers, Algeria | July 31st, 2024 — On Wednesday, Algeria’s major oil and gas firms, Sonatrach and Sonelgaz, formalized a significant Memorandum of Understanding (MoU) with the Italian multinational Eni S.p.A. This agreement, as announced by Sonatrach, initiates feasibility studies for a transformative project designed to create an undersea electrical cable connecting the power grids of Algeria and Italy.

The MoU outlines a collaborative framework to assess both the technical and economic viability of this strategic interconnection. The envisioned undersea cable aims to enable the exchange and supply of electricity to the Italian and wider European markets. This project represents a pioneering step, potentially establishing an energy corridor that directly links Algeria with Europe. The initiative is expected to reinforce the existing partnership between Sonatrach and Eni, building upon the strategic protocols established on January 23, 2023, which addressed future projects in energy supply, transition, and decarbonization.

The signing of this MoU emphasizes Algeria’s ambition to enhance its role as a key energy supplier to Europe by expanding its portfolio to include electricity. In a related development, Minister of Energy and Mines Mohamed Arkab highlighted the historical importance of the project during a visit to the Electricity System Operator (OSE) headquarters. Minister Arkab underscored that Sonatrach and Sonelgaz are on track to finalize contracts for the undersea cable, which will facilitate Algeria’s export of both conventional electricity from natural gas and power from alternative and renewable sources. This landmark initiative is set to bolster Algeria’s energy sector and strengthen its economic ties with Europe.

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