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Signing of an Agreement to Sell Cepsa's Shares in Medgaz Pipeline

Source: www.gulfoilandgas.com 10/14/2019, Location: Africa

SONATRACH, Cepsa and Naturgy signed an agreement, to sell Cepsa's shares in the Medgaz gas pipeline.

Through this agreement, SONATRACH's share in Medgaz will increase from 43% to 51%.

Thus, after the validation of the transaction by the European authorities in charge of competition, SONATRACH will become the majority shareholder of Medgaz.

As a reminder, Medgaz is a direct pipeline linking Benisaf in Algeria to Almeria in Spain.

Medgaz was commissioned in February 2011 with a capacity of 8 billion m3 per year.

Through this agreement, SONATRACH will strengthen its role as a reliable supplier on the Iberian gas market.

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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