22/12/2005
Iberdrola signed a 20-year, 10 billion-euro strategic agreement with Sonatrach through the Medgaz project on Wednesday (21 December). The agreement guarantees gas supplies to Iberdrola's combined cycle plants in Spain and makes the Algerian company its chief gas supplier. Iberdrola said that the accord boosts the amount of gas it expects to receive through the 750km Medgaz pipeline project by 60 per cent to 1.6 billion cubic metres annually from 2008.
On Saturday, Sonatrach signed a contract through the Medgaz project for the supply of the same quantity of gas with Spanish company Cepsa. The project envisages the transport of approximately 16 billion cubic metres of gas a year at full capacity, which is expected to be reached in 2020. (El Moudjahid, El Watan)