Sonatrach signs 20-year gas contract with Spanish firm Endesa
2006-05-23
 [File] Miranda |
Sonatrah CEO Mohamed Meziane and Spanish firm Endesa's CEO Rafael Miranda signed a sale and purchase contract of Algerian natural gas Monday (22 May) in Algiers. The contract envisages the delivery of 960 million cubic metres of natural gas per year over 20 years, via the Medgaz underwater gas pipeline between Beni Saf and Almeria. The 120-mile long pipeline is expected to cost $1.3 billion to build and should be completed by 2008.
The deal with Endesa is the second-largest gas delivery deal to Spain to date. At the end of 2005, Sonatrach signed an agreement to sell 1.6 billion cubic metres of gas per year to Spanish electric group Iberdrola. (APS, El Moudjahid, Liberte, El Watan)
This content was commissioned for Magharebia.com.
Loading
Email to a friend
Print version
We welcome your comments on Magharebia's articles.
It is our hope that you will use this forum to interact with other readers across the Maghreb. In order to keep this experience interesting, we ask you to follow the rules outlined in the comments policy. By submitting comments, you are consenting to these rules. While Magharebia.com encourages discussion on all subjects, including sensitive ones, the comments posted are solely the views of those submitting them. Magharebia.com does not necessarily endorse or agree with the ideas, views, or opinions voiced in these comments. This is a moderated forum. Comments deemed abusive, offensive, or those containing profanity may not be published.
Magharebia's Comments Policy