Just days after announcing its intention to shift away from its heavy presence in Russia, Germany’s gas focused Wintershall Dea on 4 May announced a deal to buy out its Italian partner Edison’s 11.25% stake in Algeria’s 2.9bcm/y Reggane Nord project.

The completion of the deal, which Edison says is worth around $100mn, would boost the firm’s stake to 30.75%, making it the leading foreign partner in the project alongside Spain’s Repsol which holds 29.25% and state firm Sonatrach with 40%. (CONTINUED - 890 WORDS)