Sonatrach to Supply Gas to US

03-06-2008

Algeria's state-owned oil company Sonatrach will supply the US with 2 billion cubic metres a year (cm/y) of liquefied natural gas (LNG) through a deal with Norway's StatoilHydro.

The partnership will supply the Cove Point LNG terminal, owned by StatoilHydro, with 2 billion cm/y from 2009-2024.

"The accord constitutes a considerable advance in the internationalisation strategy of Sonatrach by entering the downstream [sector] of the largest gas market in the world," says a statement from Sonatrach.

Sonatrach also has an agreement to sell StatoilHydro an additional 1 billion cm/y of LNG between 2009-2014.