Algeria seeks to raise the price of its gas supplied to Spain

Media reported that the Algerian state-owned company Sonatrach aims to double the price of gas exported to Spain.

The 20 Mentos newspaper pointed out that the Algerian company renegotiated its long-term agreement with the Spanish company Naturgy to supply natural gas to the kingdom more than a year ago.

Algerian gas is currently priced in terms of the price of a barrel of Brent oil, and the newspaper said that Algeria is now trying to start selling its gas to Spain based on the index of Europe’s largest TTF center, which is significantly affected by developments related to Russian gas supplies to Europe. .

For example, gas futures for the European index reached 199.49 euros per megawatt-hour at 14:17 Moscow time, which is more than twice the price of Brent.

Source: RIA Novosti

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