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TRADE-
Algeria-EU hydrogen pipeline set in motion: Algeria’s state-owned Sontrach plans on inking an MoU in September with international partners — including Germany, Italy, and Austria — to conduct feasibility studies for the development of the SouthH2 Corridor Project, according to a press release (pdf). The interconnector project will transport some 4 mn tons of green hydrogen per year from Algeria to Germany via Italy and Austria.
Algeria is doubling-down on exports: Algeria’s Sonatrach and Sonelgaz are set to sign an agreement with international partners to complete the subsea interconnector line to export electricity to the EU. The exported electricity will be generated from both renewable sources and natural gas. Sontrach also inked an agreement with Slovenian natural gas trader Geoplin back in May to increase gas exports to Slovenia by over 60% starting 2026. The country will employ its gas pipeline to Italy to deliver the natural gas to Slovenia.
OTHER STORIES WORTH KNOWING THIS MORNING-
- A wave of Indian investment for Egypt: India looks to put USD 5 bn worth of investments into Egypt by 2027 through a new bilateral investment initiative. The pair will collaborate to boost trade between the two countries by exchanging frequent visits by economic delegations. (Statement)
