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Thursday, September 28, 2017
Sonatrach chief executive, AbdelmoumenOuldKaddour, during a visit to the Medgaz pipeline near Beni Saf, said Algeria would boost its annual gas export to Europe by 10 Bcm.
Kaddour explained that the company’s current production capacity amounts to 8 Bcm/y, stressing that it can be increased by an additional 2 Bcm/y.
“The Medgaz gas pipeline can produce 10 billion cubic meters of gas through Spain,” he noted, adding that the gas facility will be provided with all the needed equipment to achieve the project.
“The importance of this project is that it will make it possible to recover large quantities of gas and sell them, particularly in the current situation of declining oil prices,” the Sonatrach chief stressed. “Our new strategy is to sell everything we can sell as gas.”
Medgaz is a gas pipeline connecting Algeria’s largest oil field, HassiMessaoud, with Spain.
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