Energy Minister, Mustapha Guitouni said Sunday in Algiers that all long-term gas marketing contracts will be renegotiated.
“All gas marketing contracts will be revised and negotiations will be firm,” said Guitouni in a conference-debate held ahead of the inauguration of the new headquarters of the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT).
Stressing that contracts are “negotiable,” Guitouni emphasized European clients’ trust in Algeria as it “has always fulfilled” its commitments.
In last July, Sonatrach group signed an agreement with Eni in Milan. The two parties agreed to enter into commercial negotiations with a view to assessing the extension of gas supply beyond the contractual deadline in 2019.
Moreover, Sonatrach sealed agreements in June to renew the contracts for the sale of natural gas to Spain with Gas Natural Fenosa until 2030.
These agreements should enable Sonatrach to strengthen its position as the main gas supplier on the Spanish market and enhance cooperation ties with its long-standing partner Gas Natural Fenosa.
-Algeria Press Service