Petroleum Africa
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Thursday, November 21, 2019
Algeria’s national oil company, Sonatrach, and the French energy group ENGIE have entered into medium- and long-term agreements for the sale and purchase of liquefied natural gas (LNG) and natural gas by gas pipeline.
Through these agreements, both parties confirmed and consolidated their long-term partnership. Sonatrach will deliver volumes of natural gas through the Trans-Mediterranean gas pipeline, as well as LNG, particularly at the Fos Tonkin LNG terminal in France. The volumes of gas under the new contract have not yet been disclosed.
These agreements will secure an outlet for Algerian gas in its natural market, which is in the current context facing increased competition between the various regional supply sources, and will help maintain export revenue for the country which has seen a considerable decline in earnings over the past decade.
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