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Thursday, December 15, 2016
ENI and state-run Algerian firm Sonatrach reached an agreement for the gas year 2016/2017, for commercial terms in accordance with the relevant gas market.
According to ENI, the agreement was reached within the Framework Agreement signed between the two on November 26. The Italian firm said that the agreement demonstrates a strong cooperation between the two companies and strengthens their partnership.
Company CEO, Claudio Descalzi, commented: “I am particularly pleased with the closing of the renegotiation on gas supply contract and the level of the strategic partnership with Sonatrach, which also involves the exploration and production sector and the recent new agreement on renewables.”
The agreement covers almost 20% of the gas imported into Italy and is another step in ENI’s adjustment of its long-term gas supply contracts.
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