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NATGAS: Algeria Seeks Contracts to Develop Gas Fields for Future Supply to EU

NATGAS
Energy BulletsBulletPower BulletsCommodities

Algeria’s Sonatrach is looking to sign contracts with major energy companies within the next few months to develop new fields, according to Bloomberg

  • The agreements with producers such as Exxon Mobil and Chevron would be the first of a series of contracts, CEO Rachid Hachichi said.
  • New fields would take between five and seven years to develop but the volume of new capacity was not given.
  • The aim to increase production is with the view to raise gas exports to Europe. Sonatrach is looking to sell to central Europe on a spot basis, depending on demand, Hachichi said, after recently supplying LNG to new importers in Germany and Croatia for the first time.
  • Sonatrach already supplies gas via pipelines to Italy and Spain from its Skikda and Arzew plants in Algeria.
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Algeria’s Sonatrach is looking to sign contracts with major energy companies within the next few months to develop new fields, according to Bloomberg

  • The agreements with producers such as Exxon Mobil and Chevron would be the first of a series of contracts, CEO Rachid Hachichi said.
  • New fields would take between five and seven years to develop but the volume of new capacity was not given.
  • The aim to increase production is with the view to raise gas exports to Europe. Sonatrach is looking to sell to central Europe on a spot basis, depending on demand, Hachichi said, after recently supplying LNG to new importers in Germany and Croatia for the first time.
  • Sonatrach already supplies gas via pipelines to Italy and Spain from its Skikda and Arzew plants in Algeria.