Algerias national petroleum agency Sonatrach and the U.S. Panhandle-Trunkline &lt;PEL.N> group signed a 20-year accord for the delivery of liquefied natural gas (LNG) the official APS news agency said. Deliveries will start next winter and rise over three years to reach 4.5 billion cubic metres annually with 60 pct of the gas carried in Algerian ships to a terminal at Lake Charles La. APS said. APS said the pricing formula will preserve the purchasing power of LNG and the interests of Sonatrach and take into account ... The world (and) the American market. The agreement follows months of negotiations between Panhandle Eastern Petroleum Corp and Sonatrach over the new LNG contract. The talks followed an accord in July 1986 which resolved a long-standing dispute between Sonatrach and Panhandle subsidiary &lt;Trunkline Gas Co> after the U.S. Group unilaterally suspended purchases of Algerian LNG.
ALGERIA SIGNS MAJOR LNG DEAL WITH U.S. GROUP