SONATRACH and ICA-FINANCE AS signed a Memorandum of Understanding to explore cooperation opportunities in areas of mutual interest supporting greenhouse gas emission reduction initiatives.
The signing ceremony took place at the Oran Convention Center (CCO), in the presence of Mr. Rachid HACHICHI, Chairman and CEO of the SONATRACH Group , and Her Excellency the Ambassador of Norway, Mrs. Therese LØKEN GHEZIEL.
ICA-FINANCE AS is a climate investment fund that supports energy companies to identify, develop, finance and implement projects aimed at reducing greenhouse gas emissions from oil and gas sector operations.
This Memorandum is in line with SONATRACH 's Climate Strategy , which intends to play a major role in the medium and long term energy transition process and aims, with this in mind, to develop and export new decarbonized energy solutions by creating an Energy Hub in Algeria capable of providing the necessary support for the energy transition.