Algerian gas will in future be resold more readily by European gas buyers after a deal struck today between the European Union and Algeria’s state champion, Sonatrach.
The deal reported by news agency Reuters allows buyers to resell into markets once protected by agreements with gas-rich Algeria.
The wording was hailed as a way of dealing with Russia and other suppliers whose gas could help create a true European gas market.
Algeria is planning a third and fourth gas pipeline to markets in Europe: 2015 is a target date for the fourth pipeline.
Melrose works to ready Egypt earnings
Edinburgh-based Melrose Resources in Egypt declared test results at the West Khilala-5 well confirm a consistent gas reservoir across the northern limits of the field, and the company hinted a production tie-back was in order.
While the West Dikimis 6 well was “disappointing”, the West Dikimis field is 75-percent developed. First production at Dikimis is due this autumn.
Melrose share prices have fallen steadily since January 2007 and were flat on the news.
Melrose owns interests in two large exploration concessions and nine development leases in the Nile Delta.
Via: OilGas24
