Middle East Economic Survey


No 22



Sonatrach Signs Gas Deal With Spains Endesa Via Medgaz Pipeline

Algerias state-owned Sonatrach on 22 May signed a 20-year gas sales agreement with Spains Endesa for gas exports of 960mn cu ms/year of natural gas that will travel via the proposed Medgaz pipeline. The annual value of the deal is $250mn and over the 20-year period could earn Sonatrach $5bn if gas prices remain at their current level. Deliveries are to begin in 2009...