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News // Russia

Algerian energy giant inks 2 oil pipeline transport contracts with Russian Transneft

13 December 2018 , 18:00Neftegaz.RU646

Algiers, December 13 - Neftegaz.RU. Algerian energy giant Sonatrach signed 2 contracts with the Russian transport company Transneft over security of liquid fuel transport for the Sonatrach pipeline transport, APS News Agency reported.

 

The first contract, with a period of 18 months, is worth 1.16 million euros (1.32 million U.S. dollars), while the second, due to run for six months, is worth 331,709 euros.

 

Abdelmoumen Oul Kaddour, Sonatrach's CEO, said the group's new strategy focuses on developing profitable partnerships with foreign companies, in order to acquire know-how and new technology.

 

We are hoping that these 2 contracts are just the beginning of a long history of partnership between Sonatrach and Transneft, he noted.

 

To read the news in Russian.

 

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