Mr Meziane noted that Europe’s continued disregard towards producers’ concerns is pushing the company to seek other importers, affecting the prospects of Europe securing stable gas supplies. Sonatrach is reported to be actively seeking customers in North America and Asia for its liquefied natural gas volumes.
Sonatrach is keen on extending its prominence beyond its immediate supply targets of Spain and Italy, further into the European mainland, by accessing the central European network that feeds Germany.
The Algerian company is reportedly interested in operating in the downstream sector but has expressed concerns over the apparent anti-competition stance of European governments in creating difficulties for it to directly access the consumer base.
Sonatrach’s CEO also added that while Algeria can guarantee an alternative source for gas, it is essential for European regulators to take into consideration the producers’ interests too. He noted that the company is locked into long-term supply contracts with European distributors, oblivious to the increasing costs of energy worldwide.
