“Sonatrach hopes to boost its LNG exports to Asia,” pointed out the company’s ‘s marketing vice president, Ahmed el Hachemi Mazighi, at a Paris conference Thursday.
“Europe would remain Sonatrach key export market for both pipeline gas and LNG, however, we hope to grow its Asian supplies,” said the official.
“Asia represents a beautiful diversification opportunity for Sonatrach,” Mazighi said.
Sonatrach plans to use its spare LNG liquefaction capacity to target Asian markets, with the current LNG utilization rate of 72% allowing for higher exports in the future.
Mazighi said Sonatrach was trying to adjust to the new market conditions through different contract structures.
“Volatility in Europe is higher than in Asia or the US, so it offers very high option value for the trading of gas on a short-term basis,” he said.