The state-owned Sonatrach of Algeria and the Italian oil corporation Eni have finalized two agreements to build renewable energy capacity, green hydrogen projects, and carbon capture and storage (CCS) projects in Algeria.
The two businesses have declared they will develop energy efficiency programs and efforts focused on green hydrogen, renewable energy, and CCS in an effort to lower greenhouse gas emissions.
The outlined potential projects, signed in the presence of Italian Prime Minister Giorgia Meloni and Algerian President Abdelmadjid Tebboune by Eni CEO Claudio Descalzi and Sonatrach CEO Toufik Hakkar, are hoped to develop energy supply and accelerate the energy transition and decarbonization.
According to a Masdar report released in November 2022, Africa has the potential to become a hydrogen export superpower, with the continent exporting 20 to 40 million metric tons of pure hydrogen, ammonia, and synthetic fuels per year.
“These agreements bear witness to our commitment to ensuring Italy’s security of supply while at the same time pursuing our decarbonization objectives,” said Descalzi. “The partnership between Italy and Algeria gets stronger today, and Algeria’s key role as one of Europe’s main energy suppliers is confirmed.”
At COP27, Jorgo Chatzimarkakis, CEO of Hydrogen Europe, warned delegates that the region could not reach its hydrogen and energy targets alone, bringing attention to Africa’s ability to secure future EU hydrogen demand.
