ALGERIA
Panhandle/Trunkline Settles with Sonatrach
The Algerian national oil company Sonatrach has reached agreement with Panhandle Eastern of the US on a settlement of the claims arising from Panhandle's unilateral decision in late 1983 to suspend imports of Algerian liquefied natural gas (LNG) by its subsidiary Trunkline LNG. Under the agreement Sonatrach will receive a cash payment and an 11.7% stake in Panhandle, opening up the possibility of joint marketing of Algerian LNG...
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