History
The idea of building a direct gas pipeline between Algeria and Europe arose in the 1970’s. To study the feasibility of a subsea link, seismic surveys, geological tests, visual inspections of the seabed and oceanographical studies were all conducted.
However, at that time, technological constraints made it impossible to build and run an ultra-deepwater gas pipeline.
These limitations however had disappeared by August 2000, when CEPSA and Sonatrach signed a protocol agreement 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.
At the beginning, several leading global energy companies expressed interest in joining the Project. At present, MEDGAZ is made up of two companies with renowned technical expertise and financial strength (Sonatrach & Medina Partnership).
Shareholder evolution
In December 2006, coinciding with the final investment decision, the first relevant shareholding modification of MEDGAZ occurred. Since then, the shareholding has been modified on several occasions, the most notable being July 2013 when the entry of Naturgy and the exit of Iberdrola, Endesa and Engie was completed and July 2020, with the departure of Cepsa and the entry of BlackRock in Medina Partnership, current shareholding.
December 2006
No Data Found
July 2013
No Data Found
July 2020
No Data Found
Timeline
The pipeline starts being filled to begin testing with gas at the terminal in Almería.
The European Investment Bank grants MEDGAZ a loan of 500 million euros.
The testing phase with gas commences.
The construction begins with the earth works in Beni Saf.
MEDGAZ is granted the Algerian Concession.
MEDGAZ is granted the Administrative Authorization.
MEDGAZ is granted the Environmental Impact Declaration.
The European Commission includes MEDGAZ in the "List of Projects of priority interest".
Another five international energy companies (BP, Endesa, Eni, Gaz de France and Total) join the project.
CEPSA and Sonatrach incorporate MEDGAZ S.A.
