Eni and Algeria's Sonelgaz, Sonatrach to study subsea power link to Italy

Italian oil and gas major Eni SpA (BIT:ENI) has agreed with Algeria's state-owned oil and gas companies Sonelgaz and Sonatrach to explore the construction of a subsea power line connecting the North African country to Europe.

The three companies have signed a memorandum of understanding (MoU) to conduct a feasibility study on the project which will enable the creation of an energy hub linking Algeria and Europe, the Algerian companies said in separate press statements.

The study will include a market assessment aimed at conducting a comprehensive technical and legal evaluation of the production, transmission, and marketing of carbon-free electricity from renewable sources. Additionally, the study will outline a detailed timetable for the project's stages, from design through to implementation and eventual commissioning.

The MoU follows previous agreements between Eni and Sonatrach focused on energy supply, energy transition and decarbonisation. It comes also against the background of Algeria's ambitions to have 15 GW of solar capacity by 2035.

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