Algeria-Spain plan to give fresh impetus to economic ties

APS : Monday, 02 April 2018
ALGIERS- Economic relations between Algeria and Spain have known, over the past few years, a noticeable development through multisectoral partnerships and enhanced trade, and are due to be given a new boost.
During the Spanish Premier Romano Rajoy’s visit to Algeria as part of the seventh Algeria-Spain High-Level Bilateral Meeting, the two countries will discuss ways and methods to further develop their economic cooperation.
In this regard, an Algerian-Spanish business forum is to be held with the participation of businessmen from the two countries.
In energy, the two countries have carried out together many mega projects and signed agreements to step up their cooperation in the field.
Among the latest joint projects marking Algerian-Spanish energy partnership, the gas consortium of Timimoune (GTIM) in Hassi Barouda, province of Adrar (1543-km southwest of Algiers), inaugurated recently, and which will produce gas and condensate.
The gas complex of Reggane North, inaugurated in December 2017, is also part of a partnership between Algerian Sonatrach and Spanish Repsol, German RWE-DEA and Italian Edison.
In addition, the two countries have signed a number of agreements, including the exploitation Rhoude el Krouf oil field, in Berkine basin, Ouargla, signed in January between Algerian two companies Sonatrach and Alnaft with Spanish Cepsa.
A solar energy project is under consideration by Sonatrach and its Spanish partner Cepsa.

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