Algeria has created a new company, Sonelgaz International, as part of efforts to strengthen the country’s economic diversification strategy and expand the overseas activities of state-owned utility group Sonelgaz, according to a statement from the Ministry of Energy and Renewable Energy.

Sonelgaz is Algeria’s state-owned electricity and gas utility responsible for electricity and gas transmission and distribution.

The move follows directives from President Abdelmadjid Tebboune aimed at building a more diversified national economy integrated into regional and international markets and supporting Algerian state-owned companies to access opportunities abroad.

The new subsidiary will identify investment and partnership opportunities overseas, particularly in African countries and the Mediterranean region, and provide value-added services covering engineering studies, project execution, operation and maintenance, as well as technical training and knowledge transfer.

The ministry said the creation of Sonelgaz International reflects the government’s intention to position Algeria as a reliable partner in regional and international energy and infrastructure projects.

(Writing by Majda Muhsen; Editing by Anoop Menon) 

(anoop.menon@lseg.com) 

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