Chaher Boulakhras, President and CEO of the National Electricity and Gas Company of Algeria (Sonelgaz), and Juan Ondo Ndongo, General Manager of Equatorial Guinea’s National Gas Company (Sonagas) signed a memorandum of understanding (MoU) on November 28 to enhance cooperation in the field of gas transmission, distribution, and energy efficiency.

The deal is valued in more than $3b and promotes digital industrial transformation at Sonelgaz’s plants throughout Algeria.

Algeria will not increase the price of electricity and gas during the reminder of 2016.

Algeria's Energy Minister, Salah Khebri, has been replaced, after a year in office, by the Head of the state power company, Sonelgaz, Noureddine Boutarfa. Algeria's President, Abdelaziz Bouteflika, organized a surprise reshuffle reflecting on an economic crisis that hit the country due to the falling oil prices.

Algeria's renewable energy development program is "practically a utopia", the state-owned electricity and gas operator, Sonelgaz's CEO, Noureddine Bouterfa said.