ORAN – Sonatrach group and the Norwegian company ICA Finance AS signed on Tuesday in Oran a memorandum of understanding (MoU), with a view to exploring cooperation opportunities in areas of mutual interest supporting initiatives to reduce greenhouse gas emissions, Sonatrach said in a statement.
The signing ceremony took place at the Oran Convention Center (CCO) Mohamed-Benahmed, on the sidelines of the 12th NAPEC, in the presence of the CEO of Sonatrach Group, Rachid Hachichi, and the Ambassador of Norway, Therese Loken Gheziel, the same source said.
It was noted that ICA-Finance AS is a Climate Investment Fund that supports energy sector companies in identifying, developing, financing and implementing projects aimed at reducing greenhouse gas emissions from oil and gas operations.
The same source said that this memorandum aligns with Sonatrach’s climate strategy, which aims to play a significant role in the medium and long-term energy transition process. In this regard, Sonatrach plans to develop and export new energy solutions by establishing an energy hub in Algeria that can provide the necessary support for the energy transition.
