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Algeria's Sonatrach pulls out of plant project with Total

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(Globalpost/GlobalPost)

Algerian state petrochemical group Sonatrach has decided to pull out of a 2007 deal with French energy giant Total to build a $5 billion ethane steam-cracking plant, knowledgable sources said Tuesday.

The Maghreb Emergent website said Sonatrach was withdrawing because it would not agree to Total's demands for a reduced price for the ethane to be delivered under the deal.

Sources close to the matter confirmed that to AFP.

Sonatrach is now seeking a new partner for the venture, the sources added.

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http://www.globalpost.com/dispatch/news/afp/140304/algerias-sonatrach-pulls-out-plant-project-total