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Naturgy Agree Gas Purchase Price With Sonatrach

NATURAL GAS

Spain’s Naturgy Energy Group SA has agreed a price for gas via the Medgaz pipeline from Algeria’s Sonatrach after months of negotiations.

  • The agreement reduces the energy security concerns with Algeria historically the largest gas supplier to Spain.
  • The contracts with Sonatrach were signed more than 20 years ago but remain valid until 2030. The contract prices are negotiated every three years. The agreements for the new price are applicable retroactively for volumes supplied until the end of 2022. The companies continue to negotiate applicable prices from 1st Jan 2023.
  • Algeria has recently increase supplies to Italy and is in talks with Engie SA for long-term supply contracts with France.
Energy BulletsCommodities
Energy BulletsCommodities

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