Spanish energy company Naturgy said Tuesday it has reached an agreement with Algerian state-owned oil and gas company Sonatrach on 2024 prices for gas supplies.

The agreement "ensures that prices reflect current market conditions," Naturgy said.

The Spanish company has gas contracts with Algeria's Sonatrach for about 5 billion cubic meters a year. The parties were negotiating prices for 2023, retroactively, and 2024.

(Information by Pietro Lombardi; edited by Inti Landauro; edited in Spanish by Javi West Larrañaga)