With many of its contracts expiring at the end of 2019, Algeria’s state-led oil firm Sonatrach has renegotiated seven new gas supply deals since mid-2018. The latest contract, signed with France’s Engie on 19 November is scant on details. Sonatrach says the two firms have “entered into medium- and long-term agreements” for LNG and piped gas through the TransMed pipeline which crosses through Tunisia to Italy (see map, MEES, 22 November). Engie and Sonatrach’s previous contract was for 10bcm/y.
Like other recently renegotiated contracts, the new Engie-Sonatrach deal is likely for lower volumes reflecting well-supplied markets and Algeria’s falling gas output (MEES, 22 November). (CONTINUED - 277 WORDS)
