The national hydrocarbon company SONATRACH and the Spanish energy group Naturgy signed in Algiers an agreement on natural gas sales and purchase contracts linking the two companies through the Medgaz pipeline.
SONATRACH and its partner Naturgy have agreed to revise the prices of existing long-term gas supply contracts in the light of market developments, thereby ensuring that their contracts are balanced on a win-win basis.
The signing of this agreement strengthens the long-standing partnership between SONATRACH and Naturgy and aims to consolidate their positions in the Spanish market.
The two companies also agreed to continue their discussions on topics of common interest.
Through its contracts with Naturgy, SONATRACH has delivered over 83 bcm to its customer in the Spanish market in the last decade, thus contributing to the strengthening of the security of gas supplies in this market.