Repsol Announces $3B Algerian Gas Project

Law360, New York (February 14, 2012, 7:35 PM ET) -- Repsol YPF announced Tuesday that Algeria has authorized a €2.225 billion ($3 billion) plan for it to develop six gas fields of the North Reggane project in the Sahara.

The project in the Reggane basin, which is about 1,500 kilometers southwest of Algiers, Algeria, includes the construction of a gas treatment plant, a gas accumulation system, an export pipeline and infrastructure, according to Repsol.

Repsol said it holds a 29.25 percent stake in the consortium that will develop the North Reggane project. Algerian government-owned Sonatrach has...
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