The Memorandum of Understanding covers the regulatory framework for the gas sector, the transport and distribution of gas through pipelines, the supply and installation of gas meters and all other areas of the energy sector of mutual interest; the Algerian government is focused on strengthening the role of its gas sector in its national and international economy, as well as optimizing energy efficiency; the signing ceremony took place during the 5th Summit of the Gas Exporting Countries Forum, in Malabo, Equatorial Guinea.
Mr. Chaher Boulakhras, President and CEO of the National Electricity and Gas Company of Algeria (Sonelgaz), and Juan Ondo Ndongo, General Manager of Equatorial Guinea’s National Gas Company (Sonagas) on Thursday signed a Memorandum of Understanding on enhanced cooperation in the field of gas transmission, distribution and energy efficiency.
The signing was attended by H.E Minister of Energy of Algeria, Mohamed Arkab, and H.E. Minister of Mines and Hydrocarbons of Equatorial Guinea, Gabriel Mbaga Obiang Lima.
The agreement aims to develop skills, partnerships and the sharing of best practices on gas and energy issues. Algeria is a leading country in Africa in the production, management and marketing of electricity and gas. Equatorial Guinea is currently developing its Gas Megahub project which aims to make the country a regional hub for gas distribution.
H.E. Minister of Energy Mohamed Arkab said “99% of Algerians have access to electricity and 63% have access to gas. We are actively developing the optimization of the entire gas value chain in a collaborative way. We want to work together to collaborate with Equatorial Guinea to share our respective fields of expertise.”
H.E. Gabriel Mbaga Obiang Lima declared: “I am very happy to welcome Algeria to this GECF summit. As a leading African country in the hydrocarbons sector, Algeria has led one of the largest delegations here in Malabo. I am particularly proud to welcome a friendly country, a brother country.”
Mr. Chaher Boulakhras expressed his satisfaction with this initiative: “This signature is a major step in the collaboration between our two countries in the energy sector. We are ready to strengthen Equatorial Guinea's capacities in all the subjects that require it, and, conversely, we are expecting a lot of collaboration so that Equatorial Guinea can share its wide knowledge in the gas sector.”
The ceremony was held on the side lines of the 5th Summit of the Gas Exporting Countries Forum, in Malabo, Equatorial Guinea, during which the importance of intra-African cooperation of all topics related to energy was highlighted.
Distributed by APO Group on behalf of Africa Oil & Power Conference.
Algeria’s Sonelgaz and Equatorial Guinea’s Sonagas sign a Cooperation Agreement in the Gas Sector