(Alliance News) - Eni Spa announced Monday that its CEO, Claudio Descalzi, and Sonatrach CEO, Toufik Hakkar, signed strategic agreements in Algiers outlining future joint projects in energy supply, energy transition and decarbonization.

The agreements were signed in the presence of the Italian Prime Minister, Giorgia Meloni, and the President of the People's Democratic Republic of Algeria, Abdelmadjid Tebboune.

"Through these agreements, Eni and Sonatrach will identify opportunities for the reduction of greenhouse gas and methane gas emissions, define energy efficiency initiatives, development of renewables, green hydrogen production, and carbon capture and storage projects, in support of energy security and at the same time for a sustainable energy transition. In addition, the companies will conduct studies to identify possible measures to improve energy export capacity from Algeria to Europe," the company explained in a note.

Eni trades down 0.1 percent at EUR14.44 per share.

By Claudia Cavaliere, Alliance News reporter

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