Algeria, Spain agree to revise 2022 gas prices ...Kuwait

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Algeria, Spain agree to revise 2022 gas prices
Algeria's Sonatrach and Spanish power group Naturgy have revised gas prices for 2022 but delayed price talks for next year and beyond amid surging demand and after a diplomatic spat between the countries. Sonatrach supplies around 5 billion cubic meters of gas a year to Spain through contracts signed more than two decades ago and valid until 2030 with periodic price reviews. Naturgy said the companies had established a new price retroactively applicable for volumes supplied to the end of 2022, and had also agreed to continue negotiating prices applicable from next year. A Sonatrach statement said the companies had agreed to revise prices without giving further details

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