Algeria's national hydrocarbon company Sonatrach and Tunisian state-owned company Societe Tunisienne de l'Electricite et du Gaz (STEG) on Thursday agreed to renew a 1997 natural gas deal, Sonatrach announced in a statement.
The new deal enables Sonatrach to provide gas until 2027, with a possible two-year extension, Sonatrach said.
The deal comes as an amendment to an earlier agreement between Sonatrach and STEG signed on March 1997 for the purchase and sale of natural gas.
According to the agreement, the gas volume will be increased by 20% starting from 2025 as demand in Tunisia is expected to increase.
The deal will allow Sonatrach to consolidate its position as the main supplier of natural gas in Tunisia in a very competitive market environment, the company said.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr