Italian oil and gas giant Eni and Algerian Sonatrach have extended their gas supply contract until 2027.
Eni said on Thursday that the two companies had signed agreements to renew the gas supply contract to import Algerian gas into Italy until 2027 – plus two further optional years – also defining the transportation arrangements through the pipeline crossing the Mediterranean Sea.
According to ENI, these agreements follow in the steps of a partnership on gas supply and transportation that was established more than 40 years ago, encompassing major pipeline projects and many decades of successful supply to Italy.
It is worth reminding that ENI and Sonatrach last April signed a memorandum of understanding to “confirm their willingness to come soon to the renewal of the gas supply contract and the transportation arrangements through the pipeline crossing the Mediterranean Sea for the forthcoming years.”
ENI’s CEO, Claudio Descalzi, commented: “I am particularly pleased with the renewal of the gas supply contract and the level of the strategic partnership with Sonatrach which spans from the exploration and production sector, to gas marketing and transportation, to renewables”.
ENI noted that today’s agreement covers almost 15% of the gas imported into Italy.