Algeria's Sonatrach, Turkey's BOTAS Renew Gas Deal

Source Press Release
Company SonatrachBotas 
Tags Oil & Gas Trading, LNG & Gas Storage/Processing
Date September 11, 2018

(Anadolu Agency) Algeria's national hydrocarbon company Sonatrach and Turkish Petroleum Pipeline Corporation (BOTAS) extended a natural gas supply agreement for another five years to supply gas to Turkey, Ahmed Mazighi,  Sonatrach's vice chairman told Anadolu Agency on Tuesday.

Mazighi confirmed that the natural gas supply agreement was renewed on July 31 and now spans from Oct. 1, 2019 to Oct. 1, 2024.

Turkey is an important market for Sonatrach, Mazighi noted, adding that the company is ready to increase cooperation with both BOTAS and other Turkish firms in the future.  

According to BOTAS's 2016 sector report, Turkey was importing 4.4 billion cubic meters (bcm) of gas per year from Algeria. This volume will rise with the renewed agreement to some 5.4 bcm per annum.

Turkey consumed nearly 46.4 bcm of natural gas in 2016, according to the Energy Market Regulatory Authority's (EMRA) yearly Natural Gas Market Sector Report, out of which Algeria holds nearly a 9.4 percent share.

Notes from Evaluate Energy: The original deal began in 1994, was for an initial 25 years and 3.02 mtpa (converted from cubic meters)

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd