Naturgy Energy Group: “We Are Not Worried About The Gas Supply From Algeria Despite Popular Protests”

Spanish company Naturgy Energy Group, formerly Gas Natural Fenosa, said on Wednesday, it had no fear of the country’s gas supplies from Algeria despite the continuing wave of protests against President Bouteflika’s bid for a fifth term.

In this context, the head of the Spanish company Naturgy, Francisco Reynés said, Tuesday, ahead of a meeting of the company’s shareholders in Madrid; “There was no risk of gas supplies that are coming from Algeria through pipelines despite the popular protests in Algeria for weeks”.

Spanish media quoted Naturgy’s official as saying: ” “Whatever happens in Algeria presidential elections, the country that is witnessing a social crisis after the decision of President Abdelaziz Bouteflika to run for a 5th term for re-election, the contract of gas supply by the Algerian state company Sonatrach will continue to be fulfilled. The risk of a shortage of gas supplies from Algeria does not exist until today.”

“Algerian gas supply covered 51.3% of the Spanish needs in 2018, of which 47% through the Maghreb gas pipelines “Medgaz” through Morocco to Spain and the rest are LNG quantities”.

The official responded to a question about the possibility of shortages due to the situation in Algeria; “We have a plan and there is no problem. Algerian gas will be compensated by other suppliers through ships”, referring to liquefied natural gas.

As it is well known, Sonatrach holds 4% of the Spanish company Naturgy’s shares and it has revenues from the marketing of gas in Spain’s domestic network.