Galsi pipeline project "is not canceled"- Yousfi

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The postponement of the Galsi gas line project to directly  link Algeria to Italy via Sardinia in May next does not mean its "cancellation", assured Saturday at Djanet the Algeria’s Minister of Energy and mines,Dr. Yousef Yousfi.  "The postponement of the investment decision of Galsi does not mean it is canceled," he told APS in visit to Djanet,in the southern country . "The final decision for the realization of this pipeline has been delayed for technical reasons,he said adding that Sonatrach is a member of the Board of Galsi which has decided to postpone the final investment decision in May 2013.                                                                                                                                              But this does not mean that we are reluctant to carry out this project, "he added, assuring that" there was never any question of abandoning the completion of the pipeline [...]. " The General Assembly of Galsi held in November 14, 2012 in Milan (Italy), "deferred to the unanimity of its members the final investment decision (FID) on 30 May 2013, for technical reasons,"                                                     Sonatrach had said Sunday in a statement that the project is progressing according to schedule established by shareholders. These latters always give him the same interest, These simultaneous releases from the Minister of Énrgie and Sonatrach came after news reports indicating a possible abandonment of Galsi. Despite good intentions, the project is not quite acquired. And among divergences; the prices that Italians want to impose. "We can not commit unless we have firm contracts, the quantities of gas dedicated to this project are there and we always have the current pressure on prices in the long term [...]. We believe that we should not invest without our investments are guaranteed and protected.                                                                                                                                 It is necessary that those which remove gas and invest with us provide us a reasonable amortization of our facilities over the long term ", stated recently the CEO of Sonatrach

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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