Eni: Gas Supply Agreement Signed with Sonatrach

Source Press Release
Company ENI S.p.A.Sonatrach 
Tags Service Contracts, Strategy - Corporate
Date July 17, 2018

Eni and Algeria’s Sonatrach have reached an agreement over their existing gas supply contract, settling the commercial conditions for the 2018-19 gas year that is in line with the gas market. The agreement covers about 20% of the gas imported to Italy.

The two companies have also agreed to open negotiations for the extension of the gas supply contracts beyond their current natural expiry in 2019, with a view to strengthening cooperation and partnership between them.

Claudio Descalzi, Chief Executive Officer of Eni, commented: “This represents another step forward in Eni’s strategic renegotiation of long-term gas supply contracts and underscores the spirit of strong cooperation between Sonatrach and Eni, which is developing in several areas, including exploration, development of new gas projects and renewables”.

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