Algerian state oil and gas giant Sonatrach on 22 November signed a three-year extension to its 3.2mn t/y sales and purchase agreement with Turkish counterpart Botas which had been due to expire in October 2024. The latest extension is nevertheless substantially shorter than the previous 10-year extension inked in 2014.
With output from the country’s own Sarkaya field in the Black Sea ramping up and Russia offering Ankara cut-price supplies for want of alternate markets, Turkey is evidently reluctant to commit to a longer-term contract for potentially more expensive oil-price-linked Algerian LNG. (CONTINUED - 200 WORDS)
