November 12, 2019 / 2:17 PM / a month ago

Algeria's Sonatrach renews Edison contract

ALGERIA, Nov 12 (Reuters) - Algeria’s Sonatrach has renewed a gas export contract with Italy’s Edison for eight years, a Sonatrach statement said on Tuesday.

The statement did not say how much gas Algeria would deliver to Edison, but said it would strengthen Sonatrach’s position in the Italian market.

Sonatrach has already this year renewed gas export contracts with Enel, Galp Energia, Eni, Botas, and Naturgy for a total volume of 27.9 billion cubic metre per year.

Algeria’s total gas exports reached 51.4 billion cubic metre in 2018. Italy and Spain account for two-thirds of that amount.

Rising domestic demand and a stagnant output have emerged as key challenges for Algeria’s gas exports. The government hopes to pass a new energy law soon that would make investment in its oil and gas sector more attractive. (Reporting By Lamine Chikhi; Writing by Angus McDowall; Editing by Alex Richardson)

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