Algeria and Peru sign cooperation agreements on energy and culture

Mar 23, 2004 01:00 AM

Foreign Ministers Abdelaziz Belkhadem of Algeria and Manuel Rodriguez Cuadros of Peru signed in Algiers two agreements to promote the Algerian-Peruvian cooperation in the fields of energy and culture.
The first agreement, signed by both ministers after thorough discussions in Al Mithaq presidential palace, centres on the promotion of the gas deposit in Peru (Camisea), which Sonatrach is one of the shareholders.

The Algerian oil company holds 10 % of the shares for the exploitation of the deposit, 20 % in the transport section (gas and oil pipelines), and plans to acquire 10 % of the liquefaction factory.
After the signature ceremony, Belkhadem declared that Algeria was ready to develop further its cooperation with Peru through this project. In this connection, he said that the Peruvian minister conveyed Peru's will and desire to see Algeria "hold more actions in this project and any other project connected with gas liquefaction." The second agreement concerns the development of cultural cooperation between both countries.

Belkhadem and Rodriguez also signed a draft agreement related to the revitalisation of the political consultation between Algeria and Peru.
The Head of the Algerian diplomacy also declared that Algeria and Peru plan to finalise before the end of 2004 other draft agreements related to investment insurance and non double taxation.

Source: Algerie Presse Service
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