Gas pipeline exploration project from Algeria to Europe

The Algerian company of hydrocarbons Sonatrach and the Spanish oil group CEPSA signed a protocol of agreement of a joint company (50/50%) that will be charged of studying the feasibility of a gas pipeline to link Algeria directly with Europe via Spain, Sonatrach announced Wednesday in Algiers according to the official Algerian news agency APS.

The report said that the capital of the joint company is $500.000 dollars and that this project meets potential Ehurapean market demands.

A Maghreb-Europe gas pipeline already dispatches the Algerian gas of Hassi R'mel fields towards the Spanish and Portuguese markets via Morocco, and the second one links Algeria to Italy via Tunisia, the report cited.