A team of highly ranked offiicials at LPC, a subsidiary firm of Motor Oil Hellas, have visited Algeria to explore the possibility of expanding the corporation’s business activities in the North African country.
The meeting took place after Naftal, a subsidiary firm of the Algerian government-owned energy company Sonatrach, a key supplier of LNG to the Greek market, forwarded a proposal for LPC to invest in the development of a lubricant processing system in Algeria. LPC had extended a related proposal in 2013.
The two sides also explored fuel and lubricant supply from Motor Oil Hellas, while problems encountered with a supply tender were also discussed.
Though not widely known, Motor Oil Hellas has enjoyed a strong market presence in the Algerian market over the past fifteen years as an exporter of lubricants, through its subsidiary firm LPC, to Naftal.
Knowledge of the cooperation between Greece and Algeria in the energy sector is generally limited to the ongoing trade between DEPA, the Public Gas Corporation, and Sonatrach, whose LNG supply to the Greek market over the festive season resolved the country’s energy supply crisis. It was caused by the temporary withdrawal of French nuclear power stations from the system.