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Update: Monday, 14 April 2008    

Spain government responds to Khelil statements by enacting more conditions

Sunday May 27 2007.

In a response to Algeria energy and mines minister M. Chakib Khelil statements on Spain responsibility for negotiations stalemate between the two parties, the Spanish government issued a communiqué in which it called Sonatrach to abide by the Spanish Energy Commission’s conditions as regards Medgaz project said by the Algerian party restrictive who called to reconsider them.

Algeria Press Service reported that the Spanish government communiqué mentioned that Sonatrach request has been accepted to raise its shares in Medgaz project capital from 20% to 36% which means that Algeria election right in board of directors to 16%. However, the Spanish government underscored that Sonatrach has to abide by some conditions.

Furthermore, the Spanish government called Sonatrach to “undertake the necessary measures meant to fulfil Medgaz project and putting into service as provided for in the document on electricity and gas plans”.

The Spanish government stressed the need that Sonatrach uses transport capacity it committed itself to provide, and not to object to proposals meant to raise transport capacity.

On another side, the communiqué mentioned that powers delegated to Sonatrach by the Spanish government are also related to “maintaining the mainstreaming social systems and shareholders agreement”.

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