Naturgy and the Algerian public company Sonatrach today signed agreements to review the price of their natural gas supply contracts. The agreements establish the new price that will be applied retroactively for the volumes supplied until the end of 2022 and that, as established in the contracts between Sonatrach and Naturgy for price revisions, takes into account market conditions, according to the company that it chairs. Francisco Reynés to the CNMV
The two companies continue to negotiate the prices applicable from January 1, 2023 within the framework of the contractual clauses. The contracts currently in force between Naturgy and Sonatrach were signed more than 20 years ago and are valid until 2030 for an annual volume of the order of 5 bcm and entail firm volume commitments, both for supply for Sonatrach and for the forced withdrawal of gas for Naturgy via take or pay clauses.
The agreements signed today have been approved by Naturgy's board of directors and are subject to ratification by the highest Algerian government authorities.
