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Majors to the rescue as Algerian policy remains in ferment
Major IOCs have underlined their business-as-usual approach in Algeria as both Italy’s Edison and France’s Engie announced on 19 November that they were renewing their strategically important long-term gas contracts. They join Italy’s Enel and Eni, Portugal’s Galp Energia, Turkey’s Botas Petroleum Pipeline Corporation and Spain’s Naturgy Energy Group (formerly Gas Natural Fenosa) in agreeing new long-term sales deals.This is a major imperative for Algiers, which depends on natural gas sales – which totalled 51.4bcm in 2018, when two-thirds went to Italy and Spain – for a large proportion of its total export revenues.
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