The message from the Algerian company indicates that this contract provides for the organization of regular supplies of Algerian liquefied gas to the Asian market. “The two companies confirm their commitment to establish a strong and fruitful business relationship in the LPG and petrochemical industries in particular,” Sonatrach said in a statement.
In addition, it was noted that the agreements reached allow Algeria “to set its base price for liquefied petroleum gas in the largest regional market in the world.”
Earlier, the Algerian national oil company announced that its export volumes in 2022 exceeded $60 billion, nearly doubling its annual revenue.
In April 2023, Sonatrach announced the opening of six new hydrocarbon storage facilities in the country.