Algeria Targets LNG Production Boost to Help Plug Europe’s Gaps
- Sonatrach aims to ink contracts with drillers this year
- Exporter eyes growth from new buyers in central Europe
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Algerian natural gas producer Sonatrach SpA said it wants to sign contracts with major energy companies within the next few months to develop new fields and export more of the fuel to Europe.
The discussions with producers such as Exxon Mobil Corp. and Chevron Corp. are aimed at securing the first of a series of contracts, Chief Executive Officer Rachid Hachichi said in an interview on Thursday. He didn’t disclose how much more new capacity would be brought online from the new fields, which would take between five and seven years to develop.