Commercial contracts with Spanish Gas Natural Fenosa renewed by Sonatrach

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National oil corporation Sonatrach and Spanish company Gas Natural Fenosa signed, Thursday, agreements about the renewing of gas purchase and sale contracts to Spain until 2030.

 

The agreements will contribute to consolidating Sonatrach’s position as the Spanish market’s main supplier of gas and will boost co-operation with historical partner Fenosa, Sonatrach said in a a statement here Thursday.

Sonatrach Chief Executive Officer Abdelmoumen Ould Kaddour said: “The agreements represent a major step in Sonatrach’s future positioning in the international gas market under its strategy SH2030, and confirm the quality of the long-term partnership between the two companies.”

Relations between Sonatrach and Fenosa date back to liquefied natural gas (LNG) supply contracts in the early 1970s, before being strengthened with the building of the Pedro Duran Farell (GPDF) and Medgaz gas pipelines.

Sonatrach is also the fourth largest shareholder in Fenosa, the statement noted.

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