Enel in Talks with Algeria for Gas Contracts

Thursday, November 23, 2017

Enel, out of Italy, will see its long-term gas supply import deals with Algeria start to expire this year. The company is currently in talks to replace the long-term contracts with new contracts not linked to the price of oil, Francesco Starace, Enel CEO said during a strategy presentation.

“Our intention is not to cancel them but substitute them with different contracts which are not oil-linked anymore,” Starace said during the presentation.

Starace said more long-term gas supply deals signed 20-25 years ago will come up for renegotiation over the next five years.

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