APS : Tuesday, 03 March 2020
ALGIERS- Minister of Energy, Mohamed Arkab, received on Monday Italian Secretary of State for Foreign Affairs, Manlio Di Stefano, with whom he discussed bilateral cooperation in the energy sector, said the ministry in a statement. The two parties reviewed the state of cooperation and partnership relations between the two countries in the field of energy, described as “historic and excellent,” and the prospects for further strengthening them.
To this end, Arkab, who expressed his satisfaction with the cooperative relations between the companies of the two countries, presented the strategic lines of the government’s action plan in the energy sector, which focus, in particular, on the energy transition based on green energies which creates wealth and growth and preserves the environment and the development of hydrocarbons through increased exploration efforts, the source said.
He noted, in this regard, that the new law on hydrocarbons offers important opportunities for investment and partnership through its flexibility in tax and contractual matters with 04 types of contracts, the same source added.
The Minister also insisted on the development of the transformation of hydrocarbons by the petrochemical industry which constitutes a very strategic axis in the sector’s programme, the industrialization of electrical network equipment and the development and training of human resources.
On this occasion, Arkab invited Italian companies to invest more in these fields and to create partnerships with Algerian companies which are mutually beneficial with a transfer of know-how and technology.
For his part, the Italian Secretary of State said he was “very satisfied” with the historical relations between the two countries and expressed the great interest of Italian companies to continue investing in Algeria in the fields of hydrocarbons and renewable energies, to develop concrete projects and to let Algerian companies benefit from Italian experience in these fields, the source concluded.
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