Word: sonatrach
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Long as three football fields, buoyant as a bobbing cork, the El Paso Sonatrach will cruise into Chesapeake Bay next week on a historic voyage. The $100 million tanker will tie up at Cove Point, Md., a once bucolic spot on the western shore of the bay. There, it will discharge liquefied natural gas (LNG) from Arzew, Algeria, into the nation's first superport designed specifically to receive...
...prices need some sort of price-stabilization arrangement. The four oil exporting nations at the Paris meeting (Algeria, Iran, Saudi Arabia and Venezuela) succeeded in getting the very word energy removed from the formal title of the conference. Sid-Ahmed Ghozali, chief of Algeria's state oil company, Sonatrach, snapped, "We didn't ask for an energy conference. You are the ones who want to discuss...
...relations between the two have been severed since the Six-Day War. Four hundred American technicians are helping Boumedienne develop the immense oil and natural-gas resources in the Sahara, and even U.S. management firms have been retained to smooth administrative problems. The biggest deal made so far by Sonatrach, the government-owned monopoly, is a $5 billion contract to provide natural gas for the U.S. East Coast. "There is no contradiction in our policy," Foreign Ministry Spokesman Mohammed ben Mehal blandly explained to TIME Correspondent Gavin Scott last week. "The American people are one thing and what the American...
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