Qatar’s Power International Holding Eyes Expanded Investments in Algeria
Algerian Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, met on Tuesday with the Chairman of the Board of Qatar’s Power International Holding, Moutaz Al Khayyat, where they explored new opportunities for partnership and investment across the various stages of the oil and gas value chain.
The two sides discussed opportunities for cooperation, partnership, and investment across the hydrocarbon value chain, as well as ways to strengthen collaboration between Sonatrach and Power International Holding in the oil and gas sector, particularly in field development, exploration and research, and hydrocarbon production in Algeria, the Algerian Minister of Hydrocarbons and Mines said in a statement.
The discussions also addressed ways to strengthen commercial cooperation, particularly in the marketing of liquefied petroleum gas (LPG) and the transportation of hydrocarbons. In addition, they explored new opportunities for partnership and investment across the various stages of the oil and gas value chain, aiming to advance strategic projects, promote the exchange of expertise and knowledge transfer, and develop human capacities in this sector, the statement said.
In this regard, Arkab emphasized that this meeting falls within the framework of joint efforts to strengthen the strong fraternal relations between Algeria and the State of Qatar, highlighting the importance of developing an economic partnership based on mutual interests. He also outlined the main programs and plans for the sector’s development, as well as the legal framework governing hydrocarbon activities in Algeria, which provides attractive incentives and benefits for investors, inviting Power International Holding to participate in the bidding round that Algeria will launch soon, the source added.
On his part, Al-Khayyat expressed his group’s interest in expanding its investments in Algeria, praising the country’s outstanding investment climate and the promising opportunities in the hydrocarbon sector. He also reaffirmed the company’s commitment to strengthening cooperation with Sonatrach in areas of mutual interest, in a manner that serves their shared economic interests.
