Sonatrach to Supply Germany with Pipeline Gas for the First Time
(Reuters) — Germany will receive its first supplies of pipeline natural gas from Algeria under a medium-term contract signed between a subsidiary of trader VNG AG and state-owned oil and gas firm Sonatrach, the companies said on Thursday.
"We are happy to strengthen our energy business partnerships with Europe through this landmark agreement with the company VNG," Sonatrach CEO Rachid Hachichi said in a statement.
This makes VNG the first German company to purchase pipeline gas from Algeria, the statement cited VNG's CEO as saying.
The agreement is with Leipzig-based VNG Handel & Vertrieb GmbH (VNG), a wholly owned subsidiary of VNG AG.
The statement said did not give details of the duration or the value of the contract.
Germany has been forced to seek new suppliers after Russia's invasion of Ukraine in February 2022 ended Germany's decades of reliance on Russian gas.
Algeria's gas production at 106 billion cubic meters per year, according to figures released by Sonatrach.
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments