Sonatrach announced the signing of this MoU in a statement last week.
According to Sonatrach, the memorandum is particularly focused on cooperation in the framework of exploration, development, and/or production of hydrocarbon projects in Algeria and/or abroad.
It includes downstream activities (refinery) and technical services (engineering, petroleum operations), as well as oil and LNG trading.
Sonatrach did not provide further details regarding LNG trading.
The Algerian firm said the MoU also covers the exchange of expertise in low-carbon emissions solutions (CCS, CCUS, GHG) and in research and development.
Also, Sonatrach noted that PVEP has been its long-standing partner.
Algeria became the world’s first LNG producer in 1964 when Sonatrach’s Arzew facility came online.
The Arzew facility has a total of three trains, and they have a total capacity of about 20.8 mtpa, but the plant has been operating below its capacity, while the Skikda terminal has a capacity of about 4.5 mtpa.
On the other hand, Vietnam currently has two LNG import terminals.
Launched in 2023, the PetroVietnam-gas operated Thi Vai LNG import terminal is Vietnam’s first LNG import facility.
It currently has a capacity of 1 mtpa, and it consists of one 180,000-cbm LNG tank, a jetty, and a regas area.
PV Gas is working on further projects, including tripling the capacity of the Thi Vai LNG import terminal.
In addition, Nebula Energy’s AG&P LNG and Vietnam’s Hai Linh received the first commissioning cargo at their Cai Mep LNG import terminal in Vietnam earlier this year.
The terminal has a capacity of 3 mtpa, expandable to 6 mtpa.
