Insight
Gas Natural Fenosa extends piped gas contracts with Sonatrach
Report summary
On 14 June 2018, Gas Natural Fenosa and Sonatrach announced the renewal of piped contracts from Algeria to Spain until 2030. The press release was light on details – with annual volume terms not even specified. However, figures reported in the press suggest that the Annual Contract Quantity (ACQ) of the renewal is similar to previous agreements. We believe the contract terms have become more flexible on volume and price. This was discussed during the renewal process and market intelligence suggests pricing includes European hub(s) indexation, in addition to indexation to a basket of oil and oil products.
Table of contents
- The contracts underpin 30% of Spanish gas demand
- and have positive implications for GNF's LNG business
- The renewal supports Sonatrach's upstream investments
- Will this deal set a precedent for further contract extensions?
Tables and charts
This report includes 3 images and tables including:
- GNF's flexible LNG availability with/without Algeria extension
- Algeria piped gas contracts to Europe
- Algeria LNG contracts
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Europe gas and power markets short-term outlook Q1 2024
TTF gas prices back to pre-crisis levels
$5,000
Asset Report
Sagunto - LNG regas terminal
Sagunto LNG terminal is an onshore operational terminal in Valencia, Spain.
$1,200
Insight
2023 Europe Gas Year in Review
A review of how the European gas market rebalanced in 2023
$950