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Gas Natural in talks with Algeria over gas price revisions


Published : Mon, 12 Mar 2007 15:20
By : Agencies
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MADRID (AFX) - Gas Natural SDG SA is in 'confidential' talks with Algeria over revising the price of gas imported from that country, a spokeswoman for the Catalan gas firm said.

She declined to make any further comment, noting that the talks relate to the 'usual price revisions'.

Earlier, the Algerian Minister for energy and mining, Chakib Kelil said Algeria is negotiating an increase in the price of its gas sold to Spain of 1 usd per million BTUs (British Thermal Unit).

The gas is transported via the Maghreb-Europe pipeline, which supplies Spain with close to 60 pct of its natural gas needs.

Last week, reports said Spain's industry ministry has given permission to Algerian state-owned oil and gas firm Sonatrach to sell gas in Spain with a 3 pct cap on its market share.

Sonatrach currently holds a 36 pct stake in Medgaz, which is constructing a second gas pipeline running between Spain and Algeria.

tfn.europemadrid@thomson.com

cl/jdy/ped/amb

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