Wintershall Dea expands in Algeria
Germany's Wintershall Dea announced on May 4 it intended to buy a 11.25% interest in the Reggane Nord gas project in Algeria from Italy's Edison, raising its overall stake in the venture to 30.75%.
Explaining the move, Wintershall Dea said Algeria was "a prime candidate for an enhanced energy partnership with Europe," noting its "significant energy potential" and well-developed infrastructure connections to the European market, including pipelines and LNG terminals. Beyond natural gas, the country also boasts major potential for low-carbon energy development including hydrogen, solar and wind power, and carbon capture and storage, Wintershall Dea said.
The sales and purchase agreement reached by Wintershall Dea and Edison is subject to customary approvals by authorities. Neither company said when they expected the deal to be closed.
Situated in Algeria's remote southwest, Reganne Nord comprises a cluster of six gas fields, the first of which came on stream in late 2017. Algeria's state-owned Sonatrach has a 40% interest, while Spain's Repsol has 29.25%.