Gas supply contract with Algerian SONATRACH
VNG Handel & Vertrieb GmbH signs gas supply contract with Algerian state-owned energy company SONATRACH.
Leipzig/Algier, 9 February 2024. Leipzig-based gas trader VNG Handel & Vertrieb GmbH (VNG H&V), a wholly owned subsidiary of VNG AG, and the Algerian state-owned energy company SONATRACH have reached a significant milestone by signing a gas supply mid-term contract. The agreement was signed on the 8th February 2024 in Algiers, Algeria, and underlines the close cooperation between the two companies.
Ulf Heitmüller, CEO of VNG: "We are delighted to have successfully concluded a gas supply mid-term contract with Sonatrach. This makes VNG the first German company to purchase pipeline gas from Algeria. The contract lays the foundation for a trusting supply relationship, opens up new prospects and strengthens the German-Algerian energy partnership. Besides natural gas from Algeria as an important commodity for energy security, we aim for the long-term to establish a hydrogen partnership with Sonatrach and to import green hydrogen from Algeria to Germany in the future. The purchase and transit of Algerian pipeline gas to Germany is an additional diversification of our purchase portfolio, underpins our position as a reliable partner for our customers and makes an important contribution to security of supply.”
Mr Rachid Hachichi, CEO of SONATRACH: “We are very happy to strengthen our energy business partnerships with Europe through this landmark agreement with the company VNG, which marks the start of natural gas deliveries to Germany, with whom we see great potential to further develop this marketing cooperation and extend it in the future to other areas of the energy value chain, such as hydrogen.
About Sonatrach
More information: www.sonatrach.com
