press releases

Proyecto SONATRACH-CEPSA: Gasoducto Argelia-Europa via Spain Madrid, 04/12/2000 On November 29th and 30th, Madrid hosted the first Spanish-Algerian Conference organized by SONATRACH and CEPSA, which included the participation of prominent authorities and delegations from both countries. As a result of this event, stronger ties between Spain and Algeria have been forged and further steps were taken to consolidate the already-close relations between CEPSA and SONATRACH, leading to co-operation agreements, noteworthy among which are the Shareholders Agreement and By-laws of the Company named “Sociedad para el Estudio y la Promocin del Gasoducto Argelia-Europa Va Espaa, S.A”. (Company for the Study and Promotion of the Algerian-European Gas Pipeline via Spain), MEDGAZ. The creation of this company was set out in the Protocol signed by SONATRACH and CEPSA on August 19, 2000. This project has sparked considerable interest from a large number of European firms. In order to facilitate the start-up of this Company and to shorten the timeframe for achieving results, the initial phase of the scheme, which entails conducting a feasibility study, will only involve a limited number of participating firms. Additional key criteria for this project include a strong presence in the Spanish energy sector and the development of upstream activities in Algeria. Based on the above criteria, companies to which a firm offer was made to participate in the scheme include BP, Gaz de France, Endesa, Eni and TotalFinaElf, as well as SONATRACH and CEPSA as sponsors of the project. Likewise, SONATRACH and CEPSA have decided to inform the companies that were not part of this initial group on the development of the feasibility studies and to ask them to convey their requirements in order to carry out, where appropriate, the corresponding capacity reserves, as well as to express their interest in taking part in the execution phase of the project. DOWNLOAD PDF Retourn MEDGAZ External Relations contacto_prensa@medgaz.com www.medgaz.com

CEPSA and SONATRACH sign an agreement to study the construction of a new gas pipeline The project would entail joining Algeria and Europe, via Spain Madrid, 06/09/2000 CEPSA and SONATRACH have just signed an agreement to set up a company aimed at studying the feasibility and promoting the construction of a new gas pipeline which would connect Algeria with Europe via Spain. The share capital of the company, held at 50% each by CEPSA and SONATRACH, will amount to 500,000 US dollars. This project is in response to the favorable prospects of rising demand for natural gas in Europe and particularly in Spain. The increase in demand will primarily stem from the development of the electric power generation sector, prompted by the increasingly greater focus on environmental protection and the latest technological advances. CEPSA and SONATRACH have invited other companies interested in the development of gas and electrical power in Europe to join this project and to take part in this new company in charge of conducting the study. DOWNLOAD PDF Return MEDGAZ External Relations contacto_prensa@medgaz.com www.medgaz.com