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Egypt, Algeria to boost cooperation in fields of gas, oil, mines

CAIRO, 27 October 2022, (TON): Egypt and Algeria signed a memorandum of understanding for cooperation in the fields of gas, oil and mines.

Tarek El-Molla, Egypt’s minister of petroleum and mineral resources, and Mohammed Arkab, Algeria’s minister of energy and mines, signed the documents.

The deal covers cooperation in the marketing of petroleum products, especially butane, and in the research, exploration and production of oil and gas.

It also lays the groundwork for collaboration in the establishment of a company whose scope of activity covers all of Africa to carry out joint studies and projects, in the conversion of conventionally fueled cars into natural gas-powered vehicles and in the exchange of expertise in national strategies for improving the hydrogen industry.

The two sides also agreed to form a joint team to execute the activities outlined in the MoU.

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