ENI Expects Reduction in Gas Price out of Algeria

Friday, April 4, 2014

ENI expects to see a significant price reduction in its long-term gas supply contract with Algeria in 2014 according to Marco Alvera, the company’s executive for midstream operations. The Italian firm plans to review most of its contracts with suppliers, of which Algeria is one, to cope better with weak demand.

“By the end of this year we should have a significant price reduction with the Algerians,” Alvera said during a presentation before the Senate.

ENI’s bid for a price reduction in Algeria follows a deal struck last year to decrease its supplies out of the North African country.

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