Algeria’s state firm Sonatrach now has a 51% majority stake in the 8bcm/y Medgaz pipeline to Spain after completing the purchase of 8% from Abu Dhabi state firm Mubadala on 30 May. As part of the same deal agreed with Mubadala last year, which valued the pipeline at $1.3bn, Spanish utility Naturgy upped its stake to 49% (MEES, 18 October 2019).
Of the two gas pipelines linking Morocco and Spain, Medgaz was the more recent to start up in 2011. Capacity lags that of the 11.5bcm/y Maghreb–Europe Gas Pipeline (GME) which connects Algeria to Spain through Morocco. (CONTINUED - 584 WORDS)