Sonatrach announced that it has signed an agreement with Eni to boost the development of natural gas production projects through joint efforts and to increase the volume of gas exports using the available capacities of Enrico Mattei gas pipeline (Transmed).

The signature ceremony was witnessed by Abdelmadjid Tebboune, President of Algeria, and Mario Draghi, the Italian Prime Minister, as well as delegation members from both countries. It was signed by Sonatrach Chairman and CEO Toufik Hakkar and Eni CEO Claudio Descalzi.

“This agreement will also allow Sonatrach and Eni to set the natural gas sales prices levels in line with market conditions for the 2022/23 year, in accordance with contractual price revision clauses,” the company said in a statement.

Additionally, this agreement highlights the close relations between the two companies and their joint efforts in the exploration and production of hydrocarbons, as well as in the field of new and renewable energies.