Algerian national energy company Sonatrach has extended its liquefied natural gas (LNG) partnership with the French major Total.
Courtesy of Sonatrach
The Algerian company noted in its statement the deal has been extended by a further three years.
Under the agreement, 2 million tons of Algerian LNG will land in France over the course of each contract year.
The statement reads that the Fos Cavaou LNG import terminal is the priority destination.
Sonatrach CEO Toufik Hakkar noted the deal extension reinforces the relationship between the two companies.
Additionally, Total noted in its statement that the agreement includes the sub-charter of an LNG tanker of Total by Sonatrach.
It was noted that the prior relationship was key in concluding the agreement in the volatile market context.
It also enables the two companies to expand cooperation in various fields of mutual interest.
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Source: LNG World News