Start-Up Of Algerian Side Of Medgaz Pipeline Imminent -Agency
09 2월 2011 - 9:15PM
Dow Jones News
The start up of the Algerian side of the Medgaz pipeline,
exporting natural gas to Spain, is "imminent," an Algerian official
was quoted as saying Tuesday, after a delay of more than a
year.
Official agency Algerie Presse Service quoted Mohamed Tayeb
Cherif, a regional manager at the pipeline transport unit of
Sonatrach, as saying "the pipeline is currently on standby. Its
start-up is imminent."
He said all technical tests have been carried out ahead of
putting of the gas pipeline into operation.
A Spanish spokesman for the Medgaz project said the pipeline is
ready to start operations "in coming weeks" but declined to provide
additional details.
The project has been continuously postponed since late 2009 amid
technical problems and a global gas glut.
Medgaz is operated by a consortium comprising Algerian state oil
company Sonatrach, Spanish companies Endesa SA (ELE.MC), Compania
Espanola de Petroleos SA (CEP.MC), or Cepsa, Iberdrola SA (IBE.MC)
and France's GDF Suez SA (GSZ.FR).
The pipeline has an annual capacity of 8 billion cubic meters,
likely more than Spain needs in additional gas supplies, given the
current decline in demand following the economic crisis.
By Benoit Faucon, Dow Jones Newswires; +44-20-7842-9266;
benoit.faucon@dowjones.com
(David Roman in Madrid contributed to this story.)