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The president of the African import-export Bank (Afreximbank), Benedict Oramah, said that the financial institution he directs was willing to support the energy projects initiated by Algeria as part of his efforts in favor of African economic integration, in particular the project of the project gas pipeline A gas pipeline is a pipeline intended for the transport of gasoline materials under pressure, most of the time hydrocarbons. Depending on their nature of use, gas pipelines can be classified as three main families: 1- Collection pipelinesbringing the gas out of the deposits or underground storage to treatment sites. 2- transportation or transit, transporting under high pressure the treated gas (dehydrated, desulfurée, …) at the doors of urban areas or industrial consumption sites 3- Distribution pipelinesdistributing low -pressure gas as close as possible to domestic consumers or small industries. Trans -Saharan (TSGP), as well as regional electrical interconnections.
This declaration was made on Thursday in Algiers, during the hearing granted by the Minister of State, Minister of Energy, Mines and Renewable Energies, Mohamed Arkab, to the manager of the Afreximbank and the delegation which accompanied him. The meeting, held at the headquarters of the ministry, took place in the presence of the Secretary of State to the Minister of Energy, responsible for renewable energies, Noureddine Yassaâ, and several executives in the sector.
At first glance, and given the context in which this meeting was held, Oramah wanted to thank Algeria and the President of the Republic, Abdelmadjid Tebboune, for the success of the fourth edition of the intra-African trade fair (IATF). He considered, as such, that the organization of this event illustrates the driving role of Algeria in the promotion of economic growth of the continent and in the opening of new prospects for cooperation and partnership between the countries of the continent, said a statement from the ministry.
As part of the examination of bilateral cooperation possibilities, Oramah reaffirmed the availability of Afreximbank to finance projects in the energy sectors, particularly highlighting the strategic scope of the TSGP for the security of energy supply and regional development.
Exchanges also focused on cooperation opportunities between Afreximbank and Algerian companies, especially in strategic sectors such as financing intra-African trade, support for energy projects, enhancement of African resources (hydrocarbons, fertilizers, phosphate, etc.) as well as support for regional integration initiatives. Cooperation with Sonatrach and the development of energy and mining industry in Africa were also discussed, in addition to agriculture and processing industries, according to the same source.
For its part, Arkab presented a detailed presentation on the programs underway in the fields of the exploration and transformation of hydrocarbons, transport and distribution of electricity, the valuation of mineral resources, the development of mining projects and renewable energies. He also mentioned seawater desalination projects and electrical interconnections with other African countries.
The Minister stressed the importance of strengthening intra-African cooperation in the field of sustainable energy and production capacities, reaffirming Algeria’s commitment to actively participate in joint development projects. He notably highlighted the expected economic benefits of the Trans -Saharan pipeline project and electrical interconnections for all the countries concerned.
The president of Afreximbank did not fail to salute Algeria’s commitment to African integration and insisted on the need to develop the local transformation of African products in order to generate more added value on the continent.