Algerian Minister of State for Hydrocarbons, Mohamed Arkab, met with Greek Parliament President, Nikitas Kaklamanis, who is on a working visit to Algeria. They reviewed the prospects of strengthening and expanding bilateral cooperation, particularly in the hydrocarbons sector. The two sides emphasized the importance of the dynamic relations between Algeria and Greece, stressing the need to continue efforts to promote bilateral cooperation and intensify consultations and exchange of experiences.
The meeting also touched on the prospects of enhancing commercial cooperation in crude oil, petroleum products, and liquefied natural gas. The two sides explored new opportunities to develop exchanges, with Arkab highlighting Algeria's strategic partnership with Greece in meeting its hydrocarbon needs, particularly natural gas. He noted the existing partnership between Algerian energy company Sonatrach and Greek energy conglomerate DEPA.
Arkab emphasized the importance of developing partnerships and investments in the exploration and production of hydrocarbons to boost production, particularly natural gas. He also stressed the need to intensify research and exploration efforts and enhance cooperation in reducing methane emissions and carbon footprint. Kaklamanis and Arkab discussed ways to strengthen cooperation between the two countries in the hydrocarbons sector.
The Greek Parliament President invited Algerian companies to explore opportunities for cooperation and investment in Greece's hydrocarbons sector. In response, Arkab encouraged Greek companies active in the hydrocarbons sector to enhance their presence and invest in Algeria, particularly in the oil and gas industry. He highlighted the benefits of Algeria's new legal framework for investment and hydrocarbons.
The two sides also emphasized the importance of encouraging Greek companies to participate in Algerian energy projects, particularly in the local manufacturing of equipment and technologies related to the oil and gas industry. This cooperation is expected to contribute to the development of industrial and technological capacities and open up new prospects for partnerships between Algerian and Greek companies.
Algeria and Greece have a long-standing relationship in the energy sector, with Greece relying heavily on Algerian natural gas imports. The two countries have been working to strengthen their cooperation in recent years, with several agreements and memoranda of understanding signed to enhance their partnership in the hydrocarbons sector.
The visit by Kaklamanis and the discussions with Arkab are seen as a significant step towards further strengthening Algeria-Greece relations, particularly in the energy sector. The two countries are expected to continue their cooperation in the hydrocarbons sector, with a focus on exploring new opportunities for collaboration and investment.
Key points
- Algeria and Greece agree to enhance cooperation in hydrocarbons sector.
- The two countries explore new opportunities for collaboration in crude oil, petroleum products, and liquefied natural gas.
- Algeria encourages Greek companies to invest in its oil and gas industry.
