Gas Natural has Algerian support to join Medgaz project |
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Published
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Thu, 08 Feb 2007 08:37
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MADRID (AFX) - Spain's Gas Natural would have Algeria's support if it wished to join the Medgaz project, to build a pipeline between the two countries, Algerian energy minister Chakib Khelil said.Khelil noted that Sonatrach, the Algerian state-owned oil and gas company, would be willing to reduce its stake in the project to facilitate Gas Natural's entry, as the Spanish government has suggested.Gas Natural itself has not expressed a desire to join, he added.Sonatrach owns 36 pct of the consortium, while Cepsa and Iberdrola have 20 pct each and Endesa and GDF 12 pct each. BP and Total pulled out in December.The Medgaz project has cost an estimated 900 mln eur and is due for completion in 2009.newsdesk@afxnews.comafp/abr/gpCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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EDP confirms talks with Sonatrach on possible partnership 