Algeria: Agreement with European Companies to Produce Green Hydrogen
“Green” fuel will be exported to Europe via the maritime transportation SoutH2 Corridor
Algeria and the trio of European countries consisting of Germany, Italy, and Austria signed a memorandum of understanding on Monday, October 14, to “carry out the necessary research and therefore assess the feasibility and cost-effectiveness of an integrated project for the production of green hydrogen in Algeria with subsequent export to Europe by sea.”
The document was signed in Algiers, the capital of the North African country, by representatives of the Algerian energy companies Sonatrach and Sonelgaz, VNG (Germany), SNAM Group (Italy), the joint company of ENI and SNAM SeaCorridor and Verbund Green Hydrogen (Austria).
As emphasized in a press release issued by Sonatrach, “the memorandums of understanding will allow the parties to jointly explore the feasibility of establishing an integrated multilateral green hydrogen value chain project using the SoutH2 Corridor.” The maritime transport corridor, the press release emphasizes, “will play a fundamental role in reducing dependence on fossil energy and facilitating the energy transition to a sustainable, low-carbon economy.” The implementation of this ambitious project has the potential to meet Europe’s green energy needs and strengthen Algeria’s position as an important energy supplier to Europe.”