Eni Extends Algeria Gas Contract

Italian multinational oil and gas company Eni announced that it had signed agreements with Algerian state-owned Sonatrach to extend its gas supply pact.

The agreement covers almost 15% of the gas imported into Italy. The agreement extends the 40-year partnership until 2027, with the option of extending an additional two years to 2029.

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.

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".