SONATRACH and VNG Handel & Vertrieb Sign a Medium-Term Gas Supply Contract

Source: www.gulfoilandgas.com 2/8/2024, Location: Africa

SONATRACH and the German company VNG Handel & Vertrieb GmbH (VNG), based in Leipzig and a 100% subsidiary of VNG AG, have taken an important step by signing a medium-term gas supply contract.

This contract was signed on February 8, 2024 in Algiers and demonstrates the close cooperation between the two companies.

Rachid HACHICHI, Chairman and CEO of SONATRACH declared that: “ We are pleased to strengthen our energy partnership with Europe through this historic contract with the company VNG, which marks the start of deliveries of natural gas to Germany, a country with which we believe that great potential exists to further develop this commercial cooperation and extend it in the future to other areas of the energy value chain such as hydrogen.

For his part, Mr. Ulf HEITMÜLLER, Chairman and CEO of VNG, stated: “ We are delighted to have been able to conclude a medium-term gas supply contract with SONATRACH . VNG thus becomes the first German company to purchase gas via pipeline from Algeria. This contract lays the foundations for a relationship of trust in terms of supply, opens new perspectives and strengthens the German-Algerian energy partnership.

In addition to the fact that Algerian natural gas is an essential product to guarantee energy security, we plan, in the long term, to establish a partnership in the field of hydrogen with SONATRACH and to import, in the future, green hydrogen from Algeria to Germany. The purchase of Algerian gas via pipeline to Germany constitutes an additional diversification of VNG's purchasing portfolio, thus strengthening its position as a reliable partner towards its customers and making an important contribution to the security of its supplies.


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