BY: Hana Saada
ALGIERS- August 18, 2023- In a resounding step towards bolstering bilateral energy and mining cooperation, the Minister of Energy and Mines, Mohamed Arkab, hosted a pivotal meeting with Abdel Aziz Ali Al-Naama, the Ambassador of the State of Qatar in Algeria, on Thursday. The deliberations, hailed as excellent by both sides, illuminated avenues to amplify collaboration in the energy and mining realms, transcending national boundaries. A beacon of this burgeoning alliance is the joint venture to establish a groundbreaking chemical complex, fostering the production of biotin and polybutene, reflecting Qatar’s readiness to partner with Algeria’s Sonatrach Group.
The multifaceted discussions between the Algerian and Qatari representatives underscored not just their shared vision for an integrated energy landscape but also their dedication to shaping a future replete with high-value manufacturing industries and advanced petrochemical innovations. As the talks unveiled, the proposed chemical complex project, spearheaded by Qatar’s Power International Holding, has set its sights on realizing an ambitious undertaking in partnership with Sonatrach Group.
Minister Arkab highlighted the already robust cooperation between Algeria and Qatar, emphasizing the Sonatrach Group’s eagerness to collaborate with Power International Holding, underscoring their collective commitment to the project’s success. The chemical complex is strategically aligned with Algeria’s national development strategy, which seeks to diversify its economy through the enhancement of its hydrocarbon resources, generating both economic value and employment opportunities.
An imperative facet of this joint endeavor is its synergy with Algeria’s broader hydrocarbon objectives. The Minister suggested that the project could seamlessly integrate with an overarching initiative that includes the exploration and utilization of new gas reserves to support the complex’s operations. This underscores not only the project’s economic viability but also its resonance with Algeria’s integrated energy ambitions.
As part of its commitment to fostering an environment conducive to energy innovation, the hydrocarbons sector, under the guidance of the Minister, has actively facilitated and embraced the incentives outlined in the new hydrocarbons law. This legal framework is designed to entice investors and invigorate research, exploration, production, and manufacturing activities within the sector.
Both parties also marked their intent to solidify discussions further, as a high-level delegation from Power International Holding is set to visit Algeria in early September. This visit aims to delve deeper into the project’s specifics, forging a path toward its successful realization in collaboration with Sonatrach Group.
Abdul Aziz Ali Al-Naama, the Qatari Ambassador, expressed his gratification at the flourishing cooperative bonds between Qatar and Algeria, reinforcing Qatar’s commitment to fostering synergistic relations within the framework of Algeria’s new hydrocarbons law. This, he affirmed, is a testament to the Qatari companies’ enthusiasm to invest in Algeria, spanning diverse areas such as research, exploration, manufacturing, and petrochemicals.
Integral to the narrative of collaboration between Qatar and Algeria is their active participation within the Gas Exporting Countries Forum, a platform fostering dialogue and consultation among nations sharing natural gas resources. This level of engagement exemplifies the shared commitment of both nations to enhance global energy dynamics through proactive collaboration.
As the echoes of the meeting reverberate, a bright horizon emerges for both Algeria and Qatar. The envisioned chemical complex project stands as an embodiment of their partnership’s potential to drive economic diversification, technological advancement, and meaningful job creation. As the world watches the synthesis of innovation and cooperation unfold, this initiative signals a paradigm shift in how nations can collaborate to harness the power of energy and manufacturing for mutual prosperity.
