France’s Engie SA is nearing a deal with Algeria to increase natural gas imports, a deal that could come after President Emmanuel Macron’s official visit to the country, Bloomberg reports.
“Diplomatic negotiations are continuing,” government spokesman Olivier Veran told BFM television on Sunday, adding that an announcement could come soon. Radio station Europe 1 first reported the potential deal which could increase deliveries by around 50%. Veran declined to comment on the number.
“There was a rapprochement during the visit,” he said. “The visit cannot be summed up in energy issues, although in today’s context the issue of energy was on the table.”
Engie CEO Catherine Macgregor, who was part of Macron’s delegation, met with Algeria’s energy minister and the head of state-owned Sonatrach, Europe 1 reported. France gets about 8% of its natural gas from Algeria, he reported.
An Engie spokesman confirmed ongoing talks but declined to elaborate on the nature or timing of any new deal.
Algeria is Europe’s biggest natural gas supplier after Russia and Norway, including France, and has discovered new fields that have attracted increasing interest. The Algerian government recently signed agreements with Italy for increased natural gas shipments.
Source: Capital
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