6 May 2007 - 12:59
  • News Code: 103937

Energy and mines minister Mr. Chakib Khelil unveiled that negotiations with Spain to increase gas prices are frozen stressing, in the same context, that Sonatrach managed to come up to a principal agreement with Brown & Root Condor so as to buy Algeria-based BRC shares.

Algeria has recently claimed the rise of gas prices marketed to Spain with 1 dollar 27 cubic meters, it entered, after, in negotiations with Gaz Naturel Company importing currently 60% of Spanish market needs of natural gas but negotiations have been frozen as the two parties have not yet managed to come up to a mutually satisfactory solution.

Concerning Gassi Touil project Mr. Khelil also mentioned that all parties are bound to abide by the books of specifications they accepted earlier.

On another side, Mr. Khelil revealed Sonatrach offer to buy Halliburton subsidiary Kellogg Brown & Root shares in Algeria-based Brown & Root Condor, stressing that the two parties managed to come up to a principal agreement between the two parties, but agreement on share prices is still pending. The minister refused to give further details as the operation is still underway of discussions. 

 

PIN/ELKHABAR.COM

News Code 103937

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