Mohamed Meziane, Sonatrach’s CEO, said that spot trades in liquefied natural gas (LNG) volumes will increase. He said that a majority of gas volumes are currently sold on long-term contracts for delivery by pipeline.
Mr Meziane has also reiterated that the Gas Exporting Countries Forum is not seeking to create a gas cartel similar to the Organization of the Petroleum Exporting Countries (OPEC).
The news source has also reported Sonatrach’s CEO as saying that it is possible to create the cartel if the decision is made, but said that gas producers need to focus on stabilizing and developing the market, and also improve communication.
