Algeria to Get Higher Gas Price in New Deals With Italy, Spain
- Deal with Spanish utility seen within a few days: Hakkar
- Gas price for Naturgy could rise by €10/MWh, RBC estimates
Photographer: Dwayne Senior/Bloomberg
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Algeria will benefit from higher natural gas prices as it locks in deals with two European Union nations anxious to secure enough natural gas supplies for the coming winter.
State-controlled Algerian energy producer Sonatrach Group concluded a deal with Italy’s Enel SpA on Wednesday and said it will soon announce one with Naturgy Energy Group SA, ending a months-long stalemate with the Spanish utility over contractual price revisions.