Shell signs MoU with Sonatrach

SourceEnergy Voice
SectorOil & Gas
CountryGulf

Shell signed a memorandum of understanding (MoU) with Sonatrach last week, looking at potential trading opportunities. A statement from the Algerian company said the agreement provided the basis for them to explore supply and trading of various products. It cited crude, gas and petroleum products as potential opportunities. Sonatrach signed the deal with Shell International Trading and Shipping. This Shell unit focuses on trading and has a major fleet for transporting energy products. The Algerian company also noted the two companies had agreed to consider ways to reduce greenhouse gas emissions and improve carbon management. A number of companies have signed agreements with Sonatrach in the last year, following the passage of Algeria’s new oil law at the end of 2019. These have tended to focus on upstream co-operation, though. Shell has made much of increasing efficiency and cutting emissions.

In March, the company said half of its long-term chartered tankers would be running on LNG in 2023. As part of this, it has made progress...read more...