BAKU, Azerbaijan, May 31. Algerian President Abdelmadjid Tebboune has formally approved a strategic memorandum of understanding with Azerbaijan aimed at broadening cooperation in the energy sector, encompassing oil, natural gas, petrochemicals, and developing green-energy initiatives,TurkicWorld reports.
Signed on November 29, 2022, the memorandum highlights the commitment of both countries to strengthening economic and industrial relations through a long-term partnership founded on shared interests and closer coordination in energy affairs.
A presidential decree issued on May 12, 2026, states that the agreement provides a comprehensive framework for collaboration in the hydrocarbons industry, including regulatory and legal matters, as well as upstream oil and gas exploration and production activities both on land and offshore.
The memorandum also envisages joint efforts in petrochemical industries, energy transportation and distribution, and the marketing of petroleum products such as naphtha and liquefied natural gas (LNG).
As part of the arrangement, Azerbaijan’s state-owned energy company SOCAR is expected to deliver long-term supplies of Azerbaijani light crude and other petroleum grades to Sonatrach Raffineria Italiana, further strengthening commercial energy ties between the two nations.
In addition, the partnership covers cooperation in renewable-energy projects, particularly hydrogen production and transport infrastructure, as well as research activities, sector management, energy infrastructure development, and workforce training.
The memorandum will remain in effect for an initial period of five years and will be automatically extended unless either side chooses to terminate it through formal notification.
