Economy

Appointment of CEO of the Algerian Energy Company

Mr. Khaled Nouasri was installed yesterday, Sunday, as the CEO of the Algerian Energy Company, which was recently created by the Sonelgaz and Sonatrach groups.

The inauguration ceremony of Mr. Nouasri was presided over by the two CEOs of Sonelgaz and Sonatrach groups, Chaher Boulakhras and Toufik Hakkar  respectively, in the presence of the representative of the Secretary-General of the National Federation of Electrical and Gas Industries, as well as high executives of the two groups.

Sonelgaz group owns 51% of the share capital of the “Algerian Energy Company”, which is mainly in charge of producing electricity from renewable energy, while t Sonatrach owns 49%.

This company is considered the fruit of the merger that took place in 2020 for the branches of the Algerian Energy Company (Kodiat Edraouche Power Company) and (Taraga Power Company), as well as (Berrouaghia Power Company) and (Skikda Power Company).

Mr. Boulakhras confirmed during his intervention, that this merger aims to “mobilize resources and provide the new company with capabilities in order to use an energy which is clean, and which generates wealth.”

He also stressed that this company is part of the realization of Sonelgaz’s strategy by 2035.

For his part, Mr. Hakkar emphasized that the creation of the new company is the result of three years of work.

The CEO of Sonatrach, explained that the new institution would create harmony between the various companies of the sector in order to reduce costs and increase production means.

“We are confident that the Algerian Energy Company will be an addition to the national energy arena,” added Mr. Hakkar.

In the same context, the CEO the Algerian Energy Company, expressed his will to overcome the specific challenges in the field of energy transition and the development of renewable energies.

It’s worth recalling that Mr. Nouasri, who is an executive at Sonelgaz, started his career in 1998 as an engineer before taking on other duties, particularly project manager, head of department and branch general manager.

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