AfricaContracts and TendersEurope

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

By LNG Prime Staff
Algeria’s Sonatrach inks LNG supply deal with Greece's DEPA
An LNG carrier unloading at the Revithoussa terminal (Image: DESFA)

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

Corporate

Daniel Kalms leaves Woodside

Woodside's executive vice president and chief operating officer international, Daniel Kalms, is leaving the Australian LNG player.
Vessels

Hanwha Ocean launches Singapore’s first FSRU

South Korean shipbuilder Hanwha Ocean has launched MOL’s floating storage and regasification unit (FSRU), which will serve Singapore’s second LNG import terminal.
Contracts and Tenders

Lithuania’s Ignitis to sign long-term LNG supply deal with EQT

Lithuanian state-controlled energy company Ignitis will sign a long-term LNG supply and purchase agreement with a unit of US natural gas producer EQT following the completion of a tender.

More News Like This

Contracts and Tenders

North Macedonia, Serbia eye LNG supplies via Greece

North Macedonia and Serbia have signed a memorandum of understanding to join the so-called Vertical Gas Corridor, enabling the two countries to receive liquefied natural gas supplies via Greek LNG terminals.
LNG Terminals

Greece’s DEPA delivers LNG cargo to Bulgartransgaz via Alexandroupolis FSRU

Greece’s DEPA has delivered its first LNG cargo to Bulgaria’s state-owned gas system operator Bulgartransgaz, a unit of Bulgarian Energy Holding, via the Gastrade-operated FSRU-based terminal in Alexandroupolis.
LNG Terminals

Algeria’s Sonatrach delivers its first LNG cargo to Germany

Algeria’s Sonatrach said it had delivered its first liquefied natural gas (LNG) cargo to Germany.
Contracts and Tenders

Venture Global doubles Greek LNG supply deal

US LNG exporter Venture Global LNG and a joint venture of Greek companies Aktor and DEPA have doubled volumes under their previously announced LNG supply deal.