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Algeria Signed LNG Supply Renewing Contract with Turkey

Source: www.gulfoilandgas.com 1/26/2020, Location: Africa

Algeria and Turkey signed in Algiers an agreement renewing the contract for the supply of liquefied natural gas (LNG) for the next five (05) years, said the APS the Minister of Energy, Mohamed Arkab.

"We have signed a contract renewal allowing Algeria to supply Turkey with liquefied natural gas (LNG) until 2024," said the minister on the sidelines of the Algerian-Turkish Business Forum, held on Sunday in Algiers.

The minister welcomed this agreement "allowing to strengthen relations between the two countries in the energy field", recalling that Algeria already held 38% of the Turkish market in liquefied petroleum gas (LPG).

In addition, the Minister announced that the construction of the petrochemical complex for the production of propylene and polypropylene (PDH-PP), which will be carried out in the city of Adana in Turkey, will be started during the first half of 2020.

Recalling that the contracts for this partnership had been concluded last September, Mr. Arkab stressed that the reception of the project and the entry into production of the complex are scheduled 24 months after the start of construction work.

The project, whose investment is estimated at $ 1.4 billion, is 66% owned by the Turkish company Renaissance and 34% by the national company SONATRACH , said the minister.

Arkab estimated that this partnership will also allow a transfer of technology in Algeria which intends to build a petrochemical complex for the production of propylene and polypropylene in Arzew.

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