European Players Sign MoU On Green Hydrogen
Sonatrach (Algeria), Sonelgaz (Algeria), VNG (Germany), Snam (Italy), SeaCorridor (Italy) and Verbund Green Hydrogen (Austria) have signed a memorandum of understanding on the joint conduct of necessary studies, throughout the hydrogen value chain, to assess the viability and profitability of an integrated project aimed at producing green hydrogen in Algeria in order to supply the European market via the SoutH2 Corridor.
Participants at the signing ceremony
The signing ceremony, which took place at the Oran Convention Centre (CCO), was chaired by the Minister of Energy and Mines, Mr. Mohamed ARKAB, in the presence of members of the government, and their Excellencies the Ambassadors of Italy, Germany and Austria.
The Chairman and CEO of the Sonatrach group , Mr. Rachid Hachichi, the Chairman and CEO of the Sonelgaz Group, Mr. Mourad Adjal and Mr. Hans-Joachim Polk, Member of the Board of Directors of VNG, Mr. Sergio Molisani, Director of the International Division of Snam, Mr. Francesco Caria, Chairman and CEO of SeaCorridor and Mr. Franz Helm, CEO of Verbund Green Hydrogen, were also in attendance.
What the leaders had to say
Hans-Joachim Polk, Member of the Board of Management for Infrastructure and Technology at VNG AG, expressed his satisfaction about the signing of the letter of intent: “After VNG signed a supply contract for Algerian pipeline gas at the beginning of the year, we are delighted to have laid the foundation for a broadly based hydrogen partnership today.
He added, “Algeria has enormous potential in the production of this future energy source and is therefore an important partner for us. If we can source green hydrogen from Algeria, we will diversify our corporate supply portfolio and make an important contribution to future security of supply with decarbonised gases.
“I am especially pleased that we will be undertaking project jointly with Algerian, Italian and Austrian partners. International cooperation will play an essential role in rolling out the hydrogen economy in Germany and the rest of Europe, because the demand for hydrogen cannot be met by domestic production alone.”
Meeting Europe’s green energy needs
This MoU will enable the parties to jointly examine the opportunity to implement an integrated multi-stakeholder project, across the entire green hydrogen value chain, via the SoutH2 Corridor.
The SoutH2 Corridor will play a major role in reducing energy dependence on fossil fuels and promoting an energy transition towards a low-carbon and sustainable economy.
The realisation of this ambitious project has the potential to satisfy the needs of the European market in green energy, and will also strengthen Algeria’s position as a major supplier of energy to Europe.
