The Spanish energy company Naturgy confirmed that the natural gas supply contracts concluded with Algeria do not include any clauses that could be affected by changes in the company’s ownership structure.

A Naturgy spokesman told Reuters, “The current contracts, which expire in 2030 and 2031, do not include any conditions that allow for supplies to be cut off in the event that the company’s shareholders change.”

These statements come in response to media reports that Algeria may stop supplying gas to Naturegy if it decides to sell its shares to another company.

It should be noted that Naturgy is in talks with its three largest shareholders; Which may lead to an offer for a complete takeover of the company.

Naturgy is the largest natural gas company in Spain, and it has important gas supply contracts with the Algerian state-owned company Sonatrach, amounting to about 5 billion cubic meters annually.

The two parties are currently negotiating gas prices for the current year, in addition to last year’s prices retroactively.