Algeria's Sonatrach, Turkey's BOTAS renew gas deal

11/09/2018 09:47 Natural Gas

news

Algeria's national hydrocarbon company Sonatrach and Turkish Petroleum Pipeline Corporation (BOTAS) extended a natural gas supply agreement for another five years to supply gas to Turkey, Ahmed Mazighi, Sonatrach's vice chairman told Anadolu Agency on Tuesday.

Mazighi confirmed that the natural gas supply agreement was renewed on July 31 and now spans from Oct. 1, 2019 to Oct. 1, 2024.

 

Turkey is an important market for Sonatrach, Mazighi noted, adding that the company is ready to increase cooperation with both BOTAS and other Turkish firms in the future.

 

According to BOTAS's 2016 sector report, Turkey was importing 4.4 billion cubic meters (bcm) of gas per year from Algeria. This volume will rise with the renewed agreement to some 5.4 bcm per annum.

 

Turkey consumed nearly 46.4 bcm of natural gas in 2016, according to the Energy Market Regulatory Authority's (EMRA) yearly Natural Gas Market Sector Report, out of which Algeria holds nearly a 9.4 percent share.

Source: aa.com.tr

Daily (17.05.2019): Brent crude added 1.2% on Thursday, due to rising tensions in the Middle East

17/05/2019 09:37:00

Oil prices extended momentum on Thursday, on rising tensions in the Middle East, as Saudi Arabia responded to its recent attacks on its crude oil firm by launching air strikes on the Houthi-held capital Sanaa. Brent crude rose by 1.2% to $72.62 a barrel, while WTI Crude increased by 1.4% to $62.87 a barrel.

<READ MORE

Irish wind hit 37% high in Q1

17/05/2019 09:01:00

Wind’s share in Ireland’s electricity rose 2% to 37% in the first quarter of 2019, compared with the same period in 2018, according to the Irish Wind Energy Association (IWEA).

READ MORE

Lukoil starts operations of two wells at D41 field in Baltic Sea

17/05/2019 08:51:00

LUKOIL has announced the commencement of commercial operation of two wells at D41 offshore field in the Baltic Sea.

READ MORE