Egypt’s Petrojet steals Algeria’s money

Experts could not determine damages value at Algeria’s energy group Sonatrach and Egypt’s Petrojet following deals with a German company, Italy’s Saipem and Petrojet. Prices were overstated and deals were granted upon orders from Algeria’s former energy minister Chakib Khelil although offers did were not in conformity with specifications, according to Sonatrach’s legal representative.

A 197-billion-deal following a friendship link

Sonatrach’s representative told an examining judge that there were price differences among companies in terms of offers. The German company won the deal at 197 billion centimes because its subsidy director is the friend of the son of Sonatrach’s former CEO.

He added that experts could not determine the damages value because there was no executive at Sonatrach specialized in electronic protection.

Petrojet exports gas to Israel and wins Galsi pipeline deals

Official documents show that Petrojet won a two-share deal worth 215 billion centimes.

According to investigators, Khelil attended the signing of the Galsi Pipeline deal of which a share was won by Saipem.

The two shares were won by Petrojet which exported gas to Israel when President Hussni Mubarek was in power in Egypt. A lawsuit was filed against it. Its deals with Sonatrach raised doubts as they were considered as indirect deals to provide Israel with Algerian gas. That shows that Mubarek authorized such “wrongdoings” and illegal deals which stole Algerians’ money.