Sonatrach and Fenosa Renew Gas Sales Agreements

Monday, June 18, 2018

Algeria’s Sonatrach renewed agreements with Spain’s Fenosa for natural gas sales until 2030. According to a Sonatrach statement, the agreements enable Sonatrach to consolidate its position as the leading gas supplier of Spain and strengthen its cooperation with its long-time partner Fenosa.

Sonatrach’s CEO, Abdelmoumen Ould Kaddour, hailed the long-term partnership between the two companies, adding that “these agreements are an important step in Sonatrach’s future positioning on the international gas market.”

Algeria’s TSA news site revealed that the contract has a value of $2.9 billion per year.

Sonatrach, which holds a 4% stake of Fenosa, is the fourth largest shareholder of the Spanish company.

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