By:Al24news.

Mohamed Arkab, the Algerian Minister of Energy and Mines, welcomed Vladislav Davankov, the Vice-President of the Russian State Duma, and his accompanying delegation during their official visit to Algeria on Thursday, as noted in a ministry communiqué.

The meeting took place at the ministry’s headquarters and was attended by Monder Bouden, the Vice-President of the National People’s Assembly (APN), other ministry officials, and the head of the economic mission at the Russian Embassy in Algiers. Discussions centered on the current state of cooperation between Algerian companies and their Russian counterparts in the energy and mining sectors, as well as avenues for strengthening these relationships.

Both parties reaffirmed their commitment to enhancing collaboration by exploring all available opportunities within the energy and mining industries, according to the same source.

Arkab highlighted the importance of the strategic partnership between the two nations, particularly following the signing of the Deep Strategic Partnership Declaration in June 2023, along with several agreements, memorandums of understanding, and action programs between the Algerian and Russian governments.

The meeting also allowed the minister to outline the strategy for developing the energy and mining sector, emphasizing the need to revitalize investments aimed at boosting oil and gas production and processing. Additionally, they discussed investment and partnership prospects in areas such as hydrocarbon exploration, development, extraction, and petrochemicals, specifically through enhanced cooperation between Algerian Sonatrach and Russian Gazprom.

In this context, Arkab conveyed optimism about establishing “mutually beneficial partnerships that leverage the advantages of the new hydrocarbons law,” according to the same source.

The Minister of Energy and Mines also reiterated Algeria’s commitment to further developing its resources to optimize the exploration and exploitation of its abundant mineral potential. He invited Russian companies to invest in Algeria’s mining sector and to forge mutually beneficial partnerships with Algerian firms, particularly in knowledge transfer and training related to research, exploration, mineral processing, and the overall advancement of the mining sector in Algeria, with a special focus on rare earth elements.

Both parties explored significant opportunities for cooperation and investment in renewable energy, including photovoltaic solar energy, as well as the application of nuclear technology in medicine, the production of radiopharmaceuticals for cancer treatment, and collaboration in seawater desalination and the local manufacturing of related equipment.