Wedoany.com Report-Oct 16, Germany’s VNG, Algeria’s Sonatrach and Sonelgaz, Italy’s Snam and SeaCorridor, and Austria’s Verbund have signed a memorandum of understanding (MoU) to jointly examine the feasibility of a project for large-scale hydrogen production in Algeria and its export via planned SoutH2 Corridor to Italy, Austria, and Germany.
The agreement signed on October 14, 2024, sets out the framework for further cooperation among the companies, including the preparation of joint studies.
Specifically, the partners agreed to explore the technical and economic feasibility of a large-scale project along the entire green hydrogen value chain using the SoutH2 Corridor.
Hans-Joachim Polk, Member of the Board of Management for Infrastructure and Technology at VNG AG, said: “After VNG signed a supply contract for Algerian pipeline gas at the beginning of the year, we are delighted to have laid the foundation for a broadly based hydrogen partnership today. Algeria has enormous potential in the production of this future energy source and is therefore an important partner for us. If we can source green hydrogen from Algeria, we will diversify our corporate supply portfolio and make an important contribution to future security of supply with decarbonised gases.
“I am especially pleased that we will be undertaking project jointly with Algerian, Italian and Austrian partners. International cooperation will play an essential role in rolling out the hydrogen economy in Germany and the rest of Europe, because the demand for hydrogen cannot be met by domestic production alone.”
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