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The dispute between the national hydrocarbon company Sonatrtcah and the Spanish company Naturgy has now reached its epilogue. The CEO of the Spanish company “Naturgy”, Francisco Reines, revealed that an agreement has been reached with the Algerian company “Sonatrach” regarding the purchase price of natural gas for the year 2024.
In a statement released by the Spanish company, its CEO confirmed that the agreement between Naturgy and Sonatrach demonstrates the strength of the historical relationship between the two parties, and the commitment of both companies to the security of supply of the Iberian Peninsula, adding that Sonatrach has already proven itself to be a reliable partner.
“The conclusion of these latest negotiations proves the strength of the historical relations between the two parties and confirms the commitment of both companies to the security of supply of the Iberian Peninsula, and Sonatrach has already proven to be a reliable partner,” declared, in substance, Francisco Reines.
The agreement “ensures that prices reflect current market conditions,” Naturegy said. It is worth recalling that the Spanish company has gas supply contracts with Sonatrach for an annual amount of around 5 billion cubic meters. The two parties were retroactively negotiating prices for 2023 and 2024.