Eni and Algeria’s Sonatrach have inked agreements to renew the gas supply contract that is used to import Algerian natural gas to Italy until 2027, in addition to two optional years, the Italian company said in a statement.
“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,” said Eni’s Ceo, Claudio Descalzi.
The agreements account for around 15% of the imported gas to Italy. In addition, it determines the transportation arrangements through the pipeline crossing the Mediterranean Sea.
Signing the agreements comes in line with the 40-year partnership for gas supply and transportation between the two countries through major pipeline projects and many decades of cooperation.