Algiers, 3rd November 2026,
SONATRACH, VNG AG and ICA-FINANCE AS signed, today, a memorandum of understanding relating to emissions reduction and low-carbon development.
The memorandum of understanding was signed during a signing ceremony which took place on the sidelines of the workshop on climate finance and carbon markets, organized on November 3rd and 4th, 2026, at the International Conference Center in Algiers.
This memorandum is the outcome of a fruitful partnership, highlighted by the memorandum of understanding signed with ICA-FINANCE in October 2024, dedicated to projects underpinning SONATRACH’s initiatives for emission reduction, in addition to the one concluded with VNG in June 2026 to cap methane emissions across the entire gas value chain. The joint efforts with these two partners have helped identify strong synergies and implement real actions to achieve their climate goals.
This new memorandum aims to support the deployment of Measurement, Reporting, and Verification (MRV) systems through concrete actions to reduce methane emissions during operations. It also promotes technology transfer, capacity building, and securing climate financing through carbon credit mechanisms.
This memorandum also aligns perfectly with SONATRACH’s Climate Strategy, which seeks to play a major role in the medium- and long-term energy transition. In this context, it aims to develop and export new low-carbon energy solutions by creating an energy hub in Algeria capable of providing the necessary support for the energy transition.
End Of Press Release
