Petroleum Africa
Find us on: 
Thursday, October 19, 2017
Sonatrach is looking to create JVs with trading companies for the marketing of its gas as the state-owned firm moves toward a new gas sales strategy, CEO Abdelmoumen Ould Kaddour said speaking at the Oil & Money conference in London.
The Sonatrach CEO went on to say that the new deals with traders would not be priced on an oil-indexed basis and would not be long term, a shift away from the company’s traditional marketing strategy.
“We’re trying to find new ways of exporting our gas and looking at having joint ventures with traders and taking risk together,” he said, adding that Sonatrach would likely make an announcement on the new business model by the end of 2017.
“It’s no longer oil indexation or long-term contracts,” he said.
Most of the longer-term contracts with European buyers are set to expire by 2021 and Ould Kaddour said Sonatrach was already looking at renegotiating these long-term contracts.
“We have started looking at the contracts we have already,” he said.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
