Sonatrach: memorandum with the IBRD and IFC on gas flaring and green hydrogen
According to Radio Algerienne, Sonatrach signed in Algiers a memorandum with the IBRD and IFC on gas flaring, methane emissions and green hydrogen.
In short
According to Radio Algerienne, the Sonatrach group signed a memorandum of understanding in Algiers with the IBRD and the IFC, members of the World Bank Group. It aims to identify and develop cooperation opportunities on reducing gas flaring and methane emissions, and on green hydrogen and its derivatives.
Key points
- Signatories: Sonatrach, the IBRD and the IFC, members of the World Bank Group.
- Subject: reducing gas flaring and methane emissions, green hydrogen and its derivatives.
- The memorandum also covers petrochemicals and fertilizers.
- Content: technical assistance, good practices, techno-economic studies, financing options, skills.
- Sonatrach, as beneficiary, handles operational supervision of the implementation.
What the memorandum provides
According to Radio Algerienne, the memorandum aims to identify and develop cooperation opportunities. They concern reducing gas flaring and methane emissions, and speeding up the energy transition through green hydrogen and its derivatives.
The dispatch says it also covers petrochemicals and fertilizers. It further provides for exploring collaboration that draws on Sonatrach's international expertise, particularly in Africa.
Parties and setting of the signing
The dispatch says the signing took place in Algiers, on the sidelines of a workshop on climate finance and carbon markets at the International Conference Centre. The parties are the Sonatrach group, the IBRD and the IFC.
Content of the cooperation and implementation
According to Radio Algerienne, the memorandum is built around the points below. As beneficiary, Sonatrach handles operational supervision of the implementation.
- Technical assistance.
- Sharing of good practices, including techno-economic studies.
- Assessment of financing options.
- Skills building.
Frequently asked questions
Who signed the memorandum on gas flaring?
According to Radio Algerienne, the Sonatrach group signed it with the IBRD and the IFC, members of the World Bank Group. The signing took place in Algiers.
What topics does the Sonatrach memorandum with the IBRD and IFC cover?
According to the dispatch, it covers reducing gas flaring and methane emissions, green hydrogen and its derivatives, petrochemicals and fertilizers.
Who supervises the implementation of the memorandum?
According to Radio Algerienne, Sonatrach, as beneficiary, handles operational supervision of the implementation.
Who can handle this procedure in Algeria?
UpGrowth, based in Algiers (Birkhadem), supports Algerian and foreign companies with entering Algeria without travelling (soft landing). Contact: https://www.upgrowth.dz/contact?service=soft-landing.