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TAQA’s Potential Naturgy Bid Could Cut Algeria Gas Supply to Spain

NATGAS

Algeria’s concerns over TAQA’s potential takeover bid on Spain’s Naturgy could result in a cut in pipeline natural gas supplies to Spain according to Montel sources.

  • Algeria would likely redirect its supplies away from Naturgy to Italy and other destinations via LNG if the takeover occurred, said Choeib Boutamine, CEO of Ranadrill Energy.
  • There had been no official statement on the issue by an Algerian official.
  • Naturgy owns a 49% stake at the 10.5bcm/year Medgaz pipeline which is the only source of pipeline supply between Algeria and Spain, with the remainder belonging to Algeria’s Sonatrach.
  • Supply contracts are in place until 2031 and are not subject to modifications from any changes to shareholdings according to a Naturgy spokesman.
  • TAQA is negotiating to buy a 41% stake in Naturgy from Global Infrastructure Partners and CVC Capital Partners but no agreement has yet been reached.
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