Sinopec inks agreement with Algeria for LNG
Chinese Sinopec and Algerian Sonatrach have extended their partnership and agreed to search for new opportunities in a memorandum of understanding (MoU) signed May 20.
The MoU aims to identify joint investment opportunities for both parties in hydrocarbon exploration and production projects, integrating co-operation in the field of LNG and petrochemicals, in Algeria. and abroad, Sonatrach said.
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The MoU aims to strengthen “the historic partnership” on the contractual perimeter of the Zarzaitine oilfield in the Illizi basin. Sinopec has been active in Algeria since 2003 and produces crude from Zarzaitine.