Algiers, 3rd November 2026,
SONATRACH, the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC), members of the World Bank’s Group, signed, today, a Memorandum of Understanding.
The memorandum of understanding aims at identifying and developing opportunities for partnership and cooperation focused on reducing gas flaring and methane emissions, as well as speeding up energy transition through the development of green hydrogen and its derivatives. It also includes the petrochemicals and fertilizers sectors while considering collaboration prospects to enhance SONATRACH’s international expertise, notably in Africa.
The memorandum of understanding was signed further to a ceremony held on the sidelines of the workshop on Climate finance and carbon markets organized on 3, 4 November 2026 at the International Conference Center, Algiers.
This memorandum is focused on technical assistance, best practices sharing, including techno- economic studies, assessing financing options and developing skills. As a beneficiary, SONATRACH, will ensure the operational supervision of its implementation.
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