The Sonatrach complex and the French company Total Energies signed, today, Sunday, in Algiers, two contracts for hydrocarbons, a contract related to the extension of contractual obligations for the sale and purchase of liquefied natural gas, as well as a memorandum of understanding in the field of energy transition and renewable energies.
The hydrocarbons contract relates to fields exploited jointly by TFT 2 and TFT South, which will allow the contracting partners Sonatrach and Total Energies to benefit from the provisions provided for in the new Law 19-13 of December 11, 2019.
As a reminder, the TFT 2 contract provides for investments of about 332 million US dollars, which allows for the recovery of 43 billion cubic meters of gas, 4.3 million tons of condensate and 5.7 million tons of LPG.
Investments for the second contract, TFT South, are estimated at $407 million, allowing for the recovery of 11.5 billion cubic meters of gas, 1.3 million tons of condensate and 1.6 million tons of liquefied petroleum gas.
Therefore, combined production of the TFT 2 and TFT South blocks will exceed 100,000 boe/d by 2026 as against the current production of around 60,000 boe/d.
The agreements signed in the field of liquefied natural gas relate to the extension of contractual obligations between Sonatrach and Total Energies for the sale and purchase of liquefied natural gas. The two parties confirm, through these agreements, the strengthening of their commercial partnership, which allows them to play a major role in supplying the French and European markets with gas, and to contribute to the energy security of consumers.
During this occasion, Messrs. Hakkar and Boyani also signed a memorandum of understanding in the field of energy transition and renewable energies, embodying the desire of the two groups to expand their partnership to include the field of sustainable development and environmental protection, and thus fully engage in the national energy transition policy.
This memorandum of understanding will open prospects for developing many areas of cooperation related to the energy transition, especially renewable energies, especially solar and wind energy; low-carbon hydrogen; Reducing and valuing flammable gases.
Aware of the environmental challenges and the stakes of diversifying energy sources, the two complexes confirm their commitment to play a major role in the transition towards a sustainable energy model that is more respectful of the environment, by working to develop new energies, through the exchange of experiences in developing research, development and technological innovation projects.
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