Algeria’s Sonatrach inks LNG supply deal with Greece’s DEPA

Algerian state energy firm Sonatrach said it has signed a liquefied natural gas (LNG) supply deal with Greece’s DEPA.

According to a Sonatrach statement, the two firms agreed to extend the long-term contract for the sale and purchase of LNG on the Greek market, starting from January 1, 2022.

In addition to the delivery of LNG cargoes to DEPA, the agreement also provides an adaptation of the existing contractual terms in line with current and future developments of the energy markets, Sonatrach said.

“Through this agreement, the two parties confirm and consolidate their long lasting
partnership for the supply of natural gas to the Greek market in an economic
environment marked by rising prices and the increasing numbers of operators,” it said.

Sonatrach did not reveal any additional information regarding the contract.

DEPA receives LNG from the Sonatrach-operated Skikda LNG export plant at the Revithoussa LNG import terminal, owned by DESFA, in Greece.

GIIGNL’s data shows that DEPA started receiving about 0.72 mtpa of LNG under the long-term contract back in 2000. The data shows that DEPA received 0.34 mtpa last year under the contract that ended on January 1 this year.

LNG deliveries to Greece dropped by almost 31 percent in 2021 due to lower volumes from the US and Qatar.

US was the largest LNG supplier to Greece last year, followed by Algeria and Qatar.

Greece currently imports LNG only via the Revithoussa facility but this will change as Gastrade recently took a final investment decision on its FSRU-based LNG import project in Alexandroupolis. DEPA is also a shareholder in this project.

Besides this project, Dioriga Gas, a unit of Motor Oil, is planning another FSRU-based import project in Greece’s Gulf of Corinth.

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

More News Like This

DESFA upgrades Revithoussa LNG terminal

Greece’s DESFA has upgraded its LNG import terminal located on the island of Revithoussa with a new high-pressure boil-off gas compressor station.

Greek LNG imports jump in Q1

LNG deliveries to DESFA's Revithoussa LNG terminal in Greece jumped in the first quarter of this year, with the US supplying most of the volumes.

Ukraine’s DTEK receives first US LNG cargo via Greece

DTEK’s unit D.Trading received the shipment at the Revithoussa facility onboard the 2010-built 155,000-cbm, GasLog Savannah, on December 27. According...

DESFA: strong interest in Revithoussa LNG slots

The Greek gas grid and Revithoussa LNG terminal operator said on Monday that its ongoing auction process for booking...