Algiers – The CEOs of Sonatrach, Mr. Rachid Hachichi, and Sonelgaz, Mr. Mourad Adjal, held discussions in Addis Ababa with Mr. Brook Taye, CEO of Ethiopian Investment Holdings. The meeting took place during the official visit of Algeria’s Minister of Energy, Mines, and Renewable Energies, Mr. Mohamed Arkab, to the Federal Democratic Republic of Ethiopia, according to a statement by the ministry on Tuesday.
The talks, attended by senior officials from the Algerian ministry and the two national companies, focused on investment and partnership opportunities between Algerian and Ethiopian institutions in the fields of energy, hydrocarbons, oil and gas industries, and fertilizers.
Sonatrach and Sonelgaz highlighted Algeria’s expertise in the exploration, exploitation, transportation, and transformation of hydrocarbons, as well as fertilizer production. Both CEOs reaffirmed Algeria’s willingness to support Ethiopia in developing its energy and hydrocarbons sectors, in line with directives from President Abdelmadjid Tebboune and outcomes from his recent visit to Ethiopia.
Mr. Hachichi emphasized Algeria’s readiness to provide technical assistance and training to enhance Ethiopia’s capacities in exploration, petrochemicals, and oil derivatives. Mr. Adjal expressed Sonelgaz’s commitment to support Ethiopia in generating electricity from both conventional and renewable sources, especially solar photovoltaics. He also discussed the possibility of supplying Ethiopia with gas turbines and mobile power stations for remote areas.
The meeting also touched on the transfer and distribution of electricity, with an emphasis on leveraging Algeria’s expertise and locally manufactured equipment.
For his part, Mr. Brook Taye voiced Ethiopia’s interest in deepening economic cooperation with Algeria and expanding trade and joint investment, as part of African regional integration. He highlighted Ethiopia’s desire to benefit from Algeria’s experience in energy and mining development.
In a related meeting, the Algerian delegation met with Mr. Ismael Mehretu, CEO of the Ethiopian Petroleum Supply Enterprise, to discuss boosting commercial cooperation between Sonatrach and Ethiopian companies in crude oil and petroleum product marketing. Discussions included the potential export of Algerian crude oil, liquefied natural gas (LNG), and liquefied petroleum gas (LPG) to Ethiopia.
Mr. Mehretu stressed the importance of securing reliable crude oil supplies, noting Ethiopia’s growing demand for petroleum products. Mr. Hachichi affirmed Sonatrach’s extensive experience in hydrocarbon marketing and expressed Algeria’s willingness to study the possibility of supplying Ethiopia with oil under competitive contract terms.
Both sides agreed to continue technical and commercial consultations to explore new cooperation opportunities and strengthen economic integration in energy, hydrocarbons, and renewables. They also reaffirmed their commitment to building a strong and mutually beneficial partnership.
