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News // Oil and gas worldwide

Algeria Will Sell Gas Directly to Portugal

23 March 2009 , 15:11Ksenia Kochneva906
According to Algerian official news agency APS, Sonatrach unit Sonatrach Gas Comercializadora (SGC) signed the agreement with the Portuguese government on March 17.

Some 85 percent of Portugal's gas needs, or 2.5 billion cubic metres a year, are already supplied indirectly by Algeria, under a 20-year agreement signed in 1993, APS said.

The gas flows through the Maghreb-Europe pipeline linking Algeria to Spain via Morocco which came into service in 1995.

Sonatrach began selling liquefied natural gas directly to Spanish customers through a Spanish unit last year.

Last June it acquired an interest in Portuguese power company EDP. APS said Sonatrach has 2 percent of EDP.

Algerian Energy and Mines Minister Chakib Khelil last month urged foreign gas consumers to change their energy policies to help develop the gas industry, saying tax systems were the main hurdle to exporters wishing to invest in gas importer nations.

Source: Reuters


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