Sonatrach Inks MOU with Hecate Global Renewables Energy

On April 29, 2024, a significant event unfolded at the headquarters of SONATRACH, marking the signing of a memorandum of understanding between SONATRACH and Hecate Energy Global Renewables (HGR Energy), an American company. Present at the ceremony were Mr. Rachid HACHICHI, Chairman and CEO of the SONATRACH Group, and Mr. David WILHELM, Chairman and CEO of HGR Energy.

This memorandum of understanding marks the commencement of a collaborative effort between SONATRACH and HGR Energy. In its initial phase, the agreement facilitates a joint feasibility study aimed at assessing the potential for establishing a renewable energy production project in Algeria.

Subsequently, the focus will shift towards evaluating the feasibility of leveraging this renewable energy for green hydrogen production initiatives.

HGR Energy is renowned as a leading developer, owner, and operator of renewable energy projects and storage solutions across North America and various global markets.

This collaborative agreement is in perfect alignment with the national strategy for renewable energy development, a strategy in which SONATRACH plays an active role through an ambitious program. The overarching objective is to meet the energy demands of SONATRACH's oil and gas facilities while responsibly and sustainably reducing on-site hydrocarbon consumption, thereby contributing to the reduction of greenhouse gas emissions.

Established in 1989, Sonatrach Petroleum Corporation (SPC) was formed in compliance with the International Business Companies Ordinance of 1984 and registered in the British Virgin Islands (SPC BVI). Since its inception, SPC BVI has experienced consistent growth.

SPC BVI facilitates the procurement and distribution of Liquids and Liquefied Petroleum Gas (LPG) products, as well as chartering services. These activities are conducted by SPC BVI through its two branches located in Algiers and London.

The London office of Sonatrach Petroleum Corporation is registered with Companies House, and all requisite documents, including accounts and employee details, are made available on the Companies House website.

Driven by robust work ethics and policies, SPC BVI has cultivated a steadfast reputation in the Oil and Gas market over the years, owing to its successful operations.

SPC BVI holds ownership of several companies, including five LPG Vessels and one VLCC: Sonatrach Gas Carrier Corporation (SGCC/Reggane), Sonatrach Petroleum Overseas Transportation Corporation (SPOTC/Djanet), Alrar Transportation Corporation (ALTC/Alrar), Rhourd Enouss Transportation Corporation (RNTC/Rhourd Enouss), Hassi Messaoud Transportation Corporation (HMTC/Hassi Messaoud II), and New Ocean Shipping Venture Ltd (NOSVL/Mesdar).

Hecate Energy stands as a prominent developer, proprietor, and operator of renewable energy projects and storage solutions across the United States. Specializing in clean energy and energy storage initiatives, Hecate Energy oversees projects from conception and planning to construction and ongoing operation.