EU Pressure Leads Algeria To Modify Gas Contracts

Law360, New York (July 11, 2007, 12:00 AM EDT) -- After extensive negotiations with European Commission regulators, Algeria has agreed to abandon a clause in its natural gas contracts that prevented purchasers from reselling gas in Europe.

State-owned gas company Sonatrach agreed on Wednesday to lift the bans placed on gas sales in certain countries and also said that it would remove territorial restrictions from current and future contracts.

Sonatrach made the concessions after the Commission's competition regulator expressed concern that the restrictions were hampering competition in member states.

“In gas supply contracts between a gas...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.