Sonatrach Unveils Ambitious New Climate Strategy: A Comprehensive Approach to Sustainable Energy

✏️ By: Dr. Hana Saada

Algiers, Algeria | July 23rd, 2024 — On Monday, July 22, 2024, Sonatrach, Algeria’s largest oil and gas company, officially launched its new climate strategy, marking a significant shift towards more sustainable and environmentally friendly practices. The announcement took place at the group’s headquarters, with Sonatrach’s Chairman and CEO, Rachid Hachichi, signing the strategy in the presence of key figures including Mohamed Arkab, Minister of Energy and Mines, and Fazia Dahleb, Minister of Environment and Renewable Energies.

A Comprehensive Strategy for Climate Action

Sonatrach’s newly unveiled strategy encompasses a broad array of initiatives designed to mitigate its environmental impact. Central to the strategy is the reduction of greenhouse gas emissions, which will be achieved through a variety of measures. These include the gradual decrease of gas flaring and methane emissions, enhanced integration of renewable energy sources into the company’s energy mix, and the advancement of carbon capture technologies, both natural and technological.

The strategy emphasizes several core components:

1. Investment and Capacity Building: Sonatrach plans to invest heavily in new technologies and capacity building to support its environmental goals. This includes reducing gas flaring and methane emissions, while progressively integrating renewable energy sources.
2. Development of Low-Carbon Fuels and Green Hydrogen: The strategy outlines efforts to develop new low-carbon fuels and promote green hydrogen, which are expected to play a crucial role in reducing the company’s carbon footprint.
3. Research and Innovation: A strong focus will be placed on research, development, and innovation. Sonatrach aims to forge strategic partnerships to drive technological advancements in climate-related fields.
4. Carbon Capture and Storage: The strategy includes an ambitious program to enhance carbon capture through reforestation efforts. Sonatrach is set to launch a pilot project to plant 10 million trees across 13,000 hectares within the next two years, as part of a broader goal to plant over 400 million trees, with an estimated investment of $1 billion.

Strategic Goals and Global Commitment

Minister of Energy Mohamed Arkab lauded Sonatrach’s new climate strategy as a tangible and commendable step in addressing climate and environmental issues. He highlighted that the strategy would not only reflect Sonatrach’s commitment to combating climate change but also align with Algeria’s international commitments under the Paris Agreement.

Arkab noted that the strategy would enhance the clarity of Sonatrach’s longstanding efforts in climate action and further the company’s role in global emissions reduction initiatives. He reminded attendees of Sonatrach’s active participation in various global initiatives and its collaborations with the World Bank and the Algerian Space Agency (ASAL) to improve emission measurement and reduction techniques.

Leadership in Environmental Responsibility

In his address, Sonatrach’s Chairman and CEO, Rachid Hachichi, affirmed the company’s dedication to addressing climate risks and protecting the environment. He emphasized that Sonatrach aims to set a benchmark in the hydrocarbon sector for environmental and climatic responsibility. Hachichi stressed the company’s commitment to transparency and accountability, pledging regular updates on progress and results achieved.

Minister Fazia Dahleb described the launch of the new strategy as a landmark event in Algeria’s fight against climate change. She noted that Sonatrach’s enhanced focus on reducing gas flaring and supporting climate initiatives represents a significant advancement in limiting greenhouse gas emissions in the country.

Sonatrach’s new climate strategy represents a forward-looking approach to integrating sustainable practices into its operations. By setting ambitious targets and committing to innovation and research, Sonatrach not only aims to reduce its carbon footprint but also to serve as a model of environmental stewardship in the global energy sector.

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