Naturgy reaches agreement with Sonatrach on 2024 gas supply price

Spanish power company Naturgy NTGY said on Tuesday it has reached an agreement with Algerian state oil and gas company Sonatrach on 2024 prices for gas supply.

The deal "ensures that prices reflect current market conditions," Naturgy said.

The Spanish company has gas contracts with Algeria's Sonatrach for about 5 billion cubic metres (bcm) per year. The parties were negotiating prices for 2023, retroactively, and 2024.