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Sonatrach signs gas deal for petchem joint venture

Mon Feb 23, 2009 6:54am GMT
 

ALGIERS (Reuters) - Algerian state energy giant Sonatrach will provide 1.75 billion cubic metres of gas per year from 2011 for a new petrochemical complex owned by Sonatrach and Egypt's Orascom, Algerian state news agency APS reported.

The 20-year deal signed on Sunday covers gas supplies to the Sorfert Algerie factory based in the Algerian port of Arzew, which will have daily production capacity of 4,400 tonnes of ammonia and 3,450 tonnes of granulated urea, APS said.

Orascom Construction Industries (OCI) has a 51 percent stake in Sorfert Algerie while Sonatrach owns the remaining 49 percent.

Algeria is expanding output of oil and natural gas and wants to invest heavily in petrochemicals to diversify the range of products for export and get more value from its energy supplies.

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