Sonatrach CEO's statement comes almost a week after Spain began re-exporting gas to Morocco in reverse flow via the GME pipeline
Algeria to review gas prices with all its clients
Sonatrach's CEO says the review of the gas prices is not targeting a single company or country.
Sunday 03/07/2022
Sonatrach CEO's statement comes almost a week after Spain began re-exporting gas to Morocco in reverse flow via the GME pipeline
ALGIERS - Algeria is negotiating with all its clients to review gas prices, state oil and gas producer Sonatrach's CEO, Tewfik Hakkar, told reporters on Sunday.
Hakkar added that the review of the prices is not targeting a single company or country.
The statement comes almost a week after Spain began re-exporting gas to Morocco in reverse flow via the Gazoduc Maghreb-Europe (GME) pipeline, marking the first direct flow of piped gas from Europe to Africa.
Spain and Morocco agreed earlier this year to consider using the GME pipeline for reverse flow to the North African country with the gas to be sourced from the global LNG market.
On November 1, Algeria, which has cut off diplomatic ties with Morocco, stopped supplying natural gas to its neighbouring country through the GME pipeline.
Algeria is now supplying Spain using the Medgaz undersea pipeline with an annual capacity of 8 bcm, which does not go through Morocco.