DEPA Commerce and the Algerian national hydrocarbon company SONATRACH renewed the liquefied natural gas (LNG) supply contract.
The agreement for the renewal of the existing LNG supply contract was signed online by the Vice President of SONATRACH, in charge of Marketing Activities, Ms. Fatiha NEFFAH and the CEO of DEPA Marketing, Mr. Konstantinos Xifaras at SONATRACH offices.
In addition to the delivery of LNG cargo to DEPA Commerce, which are channeled to the Greek market, the new agreement includes the adjustment of the terms of the existing long-term contract, based on current data and future developments in the energy sector.
Through this agreement, the two sides confirm and strengthen their historic cooperation for the supply of liquefied natural gas, at a time when the energy landscape is being reshaped with the upward trend of prices and the entry of new “players”.
The commercial cooperation between SONATRACH and DEPA Commerce started in 2000, with the Algerian company being the largest LNG supplier in the Greek market. The deliveries of the Algerian LNG take place at the Greek liquefied natural gas storage and regasification station of Revythousa, in the gulf of Megara, and from there they are forwarded to the Greek territory.
After the signing of the agreement, the CEO of DEPA Commerce, Konstantinos Xifaras stated: “The renewal of the LNG supply contract by SONATRACH, seals a long-term, constructive cooperation with a partner of a market. The signing of this agreement, by adapting the terms to the current data, meets the strategic goal of DEPA Commerce to provide its customers with sufficient quantities of natural gas at competitive prices, from reliable and diversified sources, thus “shielding” the country’s energy security. ».
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