Economy

Arkab discusses with “Gazprom International General Director” on partnership opportunities with “Sonatrach”

The Minister of Energy and Mines, Mohamed Arkab, received, Thursday in Algeria, the Director General of Russian company “Gazprom EP International”, Sergei Tumanov, with whom he discussed opportunities and possibilities of investment and partnership with “Sonatrach” group, according to the ministry in a press release.

During this meeting, which took place at the Ministry’s headquarters with the participation of Russia’s Ambassador to Algeria Igor Belyaev, they discussed opportunities and possibilities for investment and partnership between “Sonatrach” and “Gazprom” in the field of hydrocarbons, especially in the field of exploration, production, transportation and infrastructure development in gas industry, as well as gas processing and marketing.

On this occasion, the Minister touched on the development of partnership in the field of hydrocarbon conversion, which will allow for a “better valuation of hydrocarbons”, calling in this regard, “Gazprom” and “Sonatrach” to study partnership opportunities in this field.

Arkab also took this opportunity to “inform the Russian delegation on the advantages provided by the new hydrocarbons law, which will provide a win-win partnership between the two parties in developing new projects in the field of upstream and downstream oil.”

The minister also stressed the need to find and implement processes that allow accelerating the completion of the ongoing projects between Sonatrach and Gazprom.

The minister also called on “Gazprom” and Russian companies “to be more present in Algeria to create other partnerships.”

For his part, the Russian ambassador expressed his “great satisfaction” with the quality of bilateral relations between the two countries and “the interest of Russian companies in developing business and investment opportunities in the mining sector in Algeria, especially in mining projects to explore for precious and rare minerals.”

On the other hand, the minister and the Russian ambassador exchanged “views on the development of oil markets and welcomed the process of dialogue between OPEC and non-OPEC countries, for its stability.”

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