Algiers, Dhaka Sign Energy Sector Memorandum
Algeria and Bangladesh have formalized their energy partnership with the signing of a Memorandum of Understanding (MOU) on hydrocarbon cooperation in Algiers. The agreement, signed by Bangladesh's Minister of Power, Energy and Mineral Resources, Iqbal Hassan Mahmud, and Algeria's Minister of Hydrocarbons, Mohamed Arkab, on Tuesday, October 20, establishes a framework for collaboration across various stages of the hydrocarbon sector. This includes oil and gas exploration and production, transportation, processing, storage, marketing, and associated infrastructure development and investment opportunities. The MOU specifically creates new pathways for Bangladesh to import liquefied natural gas (LNG), liquefied petroleum gas (LPG), and other petroleum products from Algeria through a government-to-government mechanism.
Beyond hydrocarbons, the discussions during the Bangladeshi delegation's visit to Algiers also encompassed broader energy cooperation, including renewable energies. Algerian Minister of Energy and Renewable Energies, Mourad Adjal, met with his Bangladeshi counterpart to explore strengthening bilateral cooperation in this sector. The delegation, led by Minister Mahmud and accompanied by State Minister for Foreign Affairs Humaiun Kobir, also engaged with Algerian Prime Minister Saifi Ghrieb to discuss expanding overall energy cooperation, trade, and investment. Both nations identified significant scope for collaboration across diverse fields such as agriculture, fertilizers, education, science, technology, sports, and culture, aiming to strengthen their bilateral relations for mutual benefit.
Minister Mahmud requested Algerian authorities to organize knowledge-sharing initiatives and training programs for Bangladeshi engineers and energy experts, particularly in leveraging Algeria’s expertise in the energy sector. Discussions further covered the development of LNG and LPG infrastructure in Bangladesh, alongside exchanging best practices in coal and gas field exploration. Prime Minister Ghrieb reiterated Algeria's commitment to strengthening ties with Bangladesh, highlighting the substantial opportunities for complementary cooperation in trade, commerce, and investment between the two countries. To ensure effective implementation of the newly signed MOU, both nations have agreed to establish a joint steering committee responsible for prioritizing cooperation, reviewing projects, and coordinating between relevant institutions.
