Posted by: Prensa Latina
Spanish energy giant Fenosa has renewed the contract for the supply of Algerian gas for a period of 12 years at a cost of 30 billion euros, official sources reported here.

 

The provisions of the agreement stipulate that Gas Natural Fenosa will buy fuel from the Algerian state-owned company Sonatrach every year for the sum of 2.5 billion euros, ‘a reinforcement of our partnership with Algeria that has been going on for more than 40 years,’ said a source from the Iberian company, of which Algeria owns four percent of the shares.

This supply renewal agreement ensures the stability of the gas supply to Spain, Fenosa’s CEO Francisco Reynés said.