Sonatrach & the Tunisian Company STEG Renew Their Contract until 2027

Source: www.gulfoilandgas.com 6/18/2020, Location: Africa

The national oil company Sonatrach and the Tunisian Electricity and Gas Company (STEG) have decided to renew the contract to buy and sell natural gas for eight years, until 2027, the group said.

The two partners concluded “an addendum to the contract for the purchase and sale of natural gas of March 3, 1997 relating to the renewal of the said contract for eight years, ie until 2027, with the possibility of extension of 2 years”, clarified the same source.

The Sonatrach group and STEG also decided to "increase the contract volume by 20% from 2025 in order to secure the expected increase in consumption in this strategic market", added the press release.

"This agreement will allow Sonatrach to consolidate its position as the main supplier of natural gas to Tunisia in a very competitive market environment and to STEG to secure its supply of natural gas," said the group's press release. SONATRACH.

In this context, the two companies welcomed the outcome of these negotiations and the signing of this endorsement, it was concluded from the same source. (APS)

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