Madar (Algiers) - Algeria's state energy group Sonatrach on Tuesday, November 3, 2026, signed in Algiers a tripartite memorandum of understanding with Germany's VNG AG and Norway's ICA-Finance aimed at cutting emissions and developing low-carbon solutions, the official APS agency reported.
The signing took place on the sidelines of a workshop on climate finance and carbon markets organised by the hydrocarbons ministry and Sonatrach, attended by Sonatrach CEO Nour Eddine Daoudi, VNG AG board chairman Ulf Heitmuller and ICA-Finance CEO Matthew Harwood.
The memorandum is meant to support the deployment of measurement, reporting and verification (MRV) systems, with concrete steps to reduce methane emissions during operations, while encouraging technology transfer and capacity building and mobilising climate finance through carbon-credit mechanisms.
It builds on an earlier memorandum with ICA-Finance in October 2024 on emission-reduction projects and another with VNG AG in June 2026 on cutting methane across the gas value chain.
Daoudi said the agreement is "an important opportunity to strengthen international cooperation and partnership in the face of current challenges, such as reducing gas flaring". The group has set a target of zero gas flaring by 2030, alongside cutting methane emissions.
Heitmuller described a partnership built on "trust, reliability and commitment to long-term cooperation", while Harwood said the step crowned two years of cooperation. No financial value was disclosed.
