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Russia's Gazprom, Algeria's Sonatrach sign memo to tap gas

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MOSCOW, August 4 (RIA Novosti) - Russian energy giant Gazprom [RTS:GAZP] and Algeria's Sonatrach Petroleum Corporation have signed a memorandum on cooperation in natural gas prospecting, recovery and production, the Russian company said Friday.

"The memorandum opens new opportunities for expanding cooperation between the two companies," Gazprom said.

Algeria's proven natural gas reserves total 4.55 trillion cubic meters, the second largest reserves in Africa after Nigeria. It is also the continent's third largest oil producer after Nigeria and Libya, with 111.02 billion bbl in proven reserves.

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