The idea of building a direct gas pipeline between Algeria and Europe arose in the 1970’s. In order to study the feasibility of a subsea link, seismic surveys, geological tests, visual inspections of the seabed and oceanographical studies were all conducted.
Nevertheless, the technical limitations at that time prevented the construction and operation of an ultra deepwater gas pipeline.
These limitations however had disappeared by August 2000, when CEPSA and Sonatrach signed a protocol agreement in order to resume the project to build an Algerian-European gas pipeline, which had been considered back in the 1970’s.
In February 2001, the “Sociedad para el Estudio y Promoción del Gasoducto Argelia-Europa, vía España S.A.” (Company to Study and Build the Algerian-European Gas Pipeline via Spain, S.A.”) (MEDGAZ), was founded.
As of that moment, several leading global energy companies expressed interest in joining the Project. At present, MEDGAZ is made up of three companies with renowned technical expertise and financial strength.