BAKU, Azerbaijan, May 31. President of Algeria
Abdelmadjid Tebboune has ratified a strategic memorandum of
understanding between Algeria and Azerbaijan aimed at expanding
bilateral cooperation across the hydrocarbons sector, including
oil, gas, petrochemicals and emerging green-energy projects,
Trend reports.
Signed on November 29, 2022, the memorandum highlights the
commitment of both countries to strengthening economic and
industrial relations through a long-term partnership founded on
shared interests and closer coordination in energy affairs.
A presidential decree issued on May 12, 2026, states that the
agreement provides a comprehensive framework for collaboration in
the hydrocarbons industry, including regulatory and legal matters,
as well as upstream oil and gas exploration and production
activities both on land and offshore.
The memorandum also envisages joint efforts in petrochemical
industries, energy transportation and distribution, and the
marketing of petroleum products such as naphtha and liquefied
natural gas (LNG).
As part of the arrangement, Azerbaijan’s state-owned energy
company SOCAR is expected to deliver long-term supplies of
Azerbaijani light crude and other petroleum grades to Sonatrach
Raffineria Italiana, further strengthening commercial energy ties
between the two nations.
In addition, the partnership covers cooperation in
renewable-energy projects, particularly hydrogen production and
transport infrastructure, as well as research activities, sector
management, energy infrastructure development, and workforce
training.
The memorandum will remain in effect for an initial period of
five years and will be automatically extended unless either side
chooses to terminate it through formal notification.