Reuters: Algeria's Sonatrach Diverts Europe Gas to Asia, Eyes Latam LNG Deals

Algeria's state-run energy firm Sonatrach expects to continue diverting gas supplies away from Europe towards Asia as it also explores potential new long-term supply deals with South American importers, a top official said.

Algeria supplied around a fifth of Europe's gas needs via pipelines, primarily to Italy, Spain and France, but is also the world's seventh biggest producer of liquefied natural gas (LNG) which it exports on tankers around the world.

But Sonatrach still sees limited opportunities in trading its LNG cargoes on spot markets, focusing instead on its long-term sales model, Sonatrach's executive vice-president of marketing Mohamed Rafik Demmak said.

Read the full article HERE.