Algeria- Russia: Sonatrach, Transneft aim at developing cooperation

  • 27 September 2017 / News / 540 / Emerging Africa

Algeria- Russia: Sonatrach, Transneft aim at developing cooperation

The Russian state-owned transport monopoly, the largest oil pipeline company in the world, “Transneft” reported on Tuesday, that its Vice President “Mikhail Margelov” and Deputy General Director for Hydrocarbon Transportation of the Algerian company Sonatrach “Arbi Bey Slimane” have  initialed a memorandum in the capital “Algiers”.

The memorandum which took 2 years to work out will be inked during the visit of Russian PM Dmitry Medvedev to Algeria on October 2017.Both sides have expressed their willing to collaborate in such domains, particularly in non-destructive testing and safer operation of the pipeline infrastructure.

Cooperation with Sonatrach creates great opportunities for Transneft in the promotion of services, technologies and products in the African continent.

Mikhail Margelov pointed out that Algeria would become a new important market for “Transneft Diascan” to unlock its export potential.

On the same day “Mikhail Margelov” took part in the next meeting of the mixed intergovernmental commission for commercial-economic and research-technology collaboration.

The Russian delegation was led by Russian Energy Minister and board chairman of Transneft Alexander Novak.

With an annual turnover of Africa’s biggest oil company, which exceeds $50 billion, “Sonatrach” operates more than 20,000 km of trunk pipelines and owns petrochemical and desalination plants, as well as 4 natural gas liquefaction plants and 5 oil refineries

source: dzbreaking

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