Eni and Sonatrach signed a memorandum of understanding (MoU) to renew the gas supply contract, Eni announced on April 25.

The MoU was signed by Rachid Hachichi, Sonatrach’s Chairman and CEO, and Claudio Descalzi, Eni’s CEO, 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 coming years.

The Italian energy giant said that the MoU affirms the long-term relationship with the Algerian company as the basis of a new contractual framework considering the changes in market conditions.