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.