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Sonatrach & Naturgy Sign New Gas Contracts

Source: www.gulfoilandgas.com 10/8/2020, Location: Africa

The signing of gas contracts between SONATRACH and the Spanish group Naturgy will strengthen the position of the public group in the Spanish market, said in Algiers the CEO of SONATRACH Mr Toufik Hakkar.

Speaking during the work of the Algerian-Spanish forum, held on the sidelines of the official visit of the President of the Spanish Government Pedro Sanchez, Mr. Hakkar indicated that the signing of these amendments to the gas contracts relating to the conditions of gas delivery until 2030 , intervened after 5 months of negotiations between SONATRACH and Naturgy.

“Today, after tough negotiations with the Spanish partner Naturgy on gas marketing contracts, we have succeeded in signing three contracts that bind SONATRACH and the Spanish company (…) This success will allow SONATRACH to strengthen its position in the Spanish and Iberian gas market in general, particularly in this period of very tough competition between the various gas producers ”, also stressed Mr. Hakkar.

“These are amendments to gas contracts that have existed since the 1970s”, Mr. Hakkar added, adding that “the SONATRACH group currently sells more than 12 billion m3 of natural gas in Spain, including 8 billion m3 sold to the Naturgy group ”.

Insisting on the importance of these agreements which will allow his group to strengthen its presence in Spain, the CEO of SONATRACH added that “other negotiations are underway with the Spanish side” for the realization of several projects in the fields of exploration, production, marketing and transport of energy both in Algeria and in Spain.

SONATRACH is present in Spain as part of the petrochemical project and Spanish companies are established in Algeria and operating in the seawater desalination sectors, in electricity and other fields of activity such as the production of fertilizers. , he said. “We are long-standing partners, Spanish companies like Repsol and Cepsa have operating perimeters in Algeria”, also noted the CEO of SONATRACH.

According to him, gas export volumes have so far reached 350 billion m3 and 115 million tonnes of petroleum products, recalled Mr. Hakkar.

For his part, the CEO of Naturgy, Francisco Reynes affirmed that the agreements signed with the SONATRACH group confirm Naturgy's long-term compromise with SONATRACH and between Spain and Algeria.

Stressing that gas is a main source of energy and represents a strategic objective, for Spain, the CEO of Naturgy indicated that “the signing of the agreements with SONATRACH took place with the support of the Spanish and Algerian governments”.

“We were able to sign better contracts, which allow a long-term partnership and jointly carry out projects in the future. The most important is the durability of the partnership ”, said the Spanish leader, recalling that“ the agreements between the two parties go back 50 years, during which the relations were opened and characterized by trust ”.

Noting the existence of strong competition in the gas market, Mr. Reynes affirmed that the two parties agreed “new conditions to maintain the long-term partnership, in particular on the conditions of the extension of the term. of the contract. ”(APS)

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