Algeria, which supplies Galeb with gas, says it has agreed with three customers, Energia, to raise prices

Algeria says it has reached an agreement with three “partners” to increase the prices of its natural gas exports, at a time when Europe is rushing to increase supplies to the country.

“We are confident that we will soon reach an agreement to re-evaluate prices with other partners,” the CEO of the state-owned energy company, Sonatrach, Toufik Hakkar, announced today, Sunday, in a press conference, without mentioning the three partners with whom he is linked. Already signed. understanding.

Bloomberg quoted the “negotiations” are very difficult and exhausting and require more time.

Algeria is the largest supplier of natural gas to Europe, after Russia and Norway – it ships its fuel through pipelines to Spain and Italy, as well as exports in liquid form.

The European Union is trying to reduce the natural gas it imports to Moscow, within the framework of sanctions imposed after Russia’s invasion of Ukraine. Several EU officials have already traveled to Algeria to try to secure a commitment to increase production from that country.

Sonatrach is trying to take advantage of the rise in natural gas prices last year (and this year, on the Dutch market – the benchmark for Europe – they have already risen by more than 300%), and therefore is analyzing several options with buyers, including linking their contracts more to prices Immediately, Reuters reported last week.

The Algerian state-owned company deals with several European companies, such as Galp in Portugal, Cepsa and Endesa in Spain, Eni in Italy, and Engie in France.