Naturgy, Sonatrach tweak gas sales agreement
Senior Sonatrach executives have held a meeting with Naturgy to review gas agreements. The two sides reached an agreement to amend gas sales contracts, a statement from the Algerian NOC said.
The meeting was held on the sidelines of a Spanish government visit to Algiers. Sonatrach’s CEO Toufik Hakkar held talks with Naturgy’s CEO Francisco Reynes. Tensions had been rising over the year between Naturgy and Sonatrach, with rumours that a disagreement over gas sales may end up in arbitration.
Hakkar noted the impact on the oil and gas industry of COVID-19. “Sonatrach is overcoming, in close collaboration with its customers, the effects of this pandemic on commercial activities,” he said.
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