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Spain's Repsol, Gas Natural in Algerian joint venture




AFP
MADRID
Petroleumworld.com 03 15 06

Spanish energy groups Repsol-YPF and Gas Natural on Tuesday signed a joint venture agreement with Algeria's hydrocarbons producer Sonatrach with a view to building a liquified natural gas (LNG) plant, Repsol said.

Repsol said the Sociedad de Licuefaccion (SDL) plant would form part of an "integrated gas project" at Gassi Touil in eastern Algeria, Repsol and Gas Natural having successfully won the tender from the Algerian authorities in 2004.

The plant is to come on stream in four-and-a-half years time with initial annual production capacity of four million tons of LNG, according to Repsol.

Repsol has a 48 percent stake in the SDL site while Gas Natural controls 32 percent and Sonatrach 20 percent.

The Spanish firms say they are collectively investing 1.62 billion euros (1.9 billion dollars) in the venture.

AFP 03 14 06

Copyright © 2006 AFP. All Rights Reserved.


 

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