Algeria has started negotiations with France on the increase in gas prices, which « have just been concluded » with an agreement, said with satisfaction the Algerian oil and gas company, Sonatrach, in a press release published this Thursday July 7th.
The agreement was signed between Sonatrach and the French group Engie, and generally concerns the purchase and sale of natural gas which passes through the Medgaz-Europe gas pipeline directly linking Algeria to Spain.
According to the press release, “through this agreement, the two parties have agreed to define the contractual sale price applicable over a period of three years, extending until 2024, to take into account market conditions”.
Also, Sonatrach will strengthen “its share in Engie’s supply portfolio, allowing the two groups to continue their diversification and contribute to the energy security of European customers”. The two groups have « confirmed their intention to extend their partnership on LNG and natural gas », still according to the Algerian oil company.
During a press conference, organized on July 3, the CEO of the company, Toufik Hakkar, made it known that « the revision of the prices of gas exported by Algeria is done with all of its partners in given the increase in world gas prices.
He was speaking after the presentation of Sonatrach’s balance sheet for the year 2021 and the first five months of 2022. Hakkar insisted that « the price revision is done with all of Sonatrach’s partners without take into account the nature of the partner”.
In addition to France, negotiations are also under way with Spanish and Portuguese partners. The boss of Sonatrach also welcomed the interest shown by new partners in the acquisition of Algerian gas, citing requests from Eastern European countries.
By OMA Newsletter N° 772 of 08/07/2022
Article published under the direction of Dr. NajibKettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
