Sonatrach, ENI sign two deals on gas sale contract renewal

May 17th, 2019

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APS : Thursday, 16 May 2019

ALGIERS- Algerian Group Sonatrach and Italian ENI signed Thursday in Algiers two agreements on the renewal of long term natural gas sale/purchase contract to the Italian market and on the new conditions for
the continuation of partnership in the exploitation of TMPC transport system.
The two agreements were signed by CEO of Sonatrach Rachid Hachichi and ENI Chief Executive Claudio Descalzi, at the headquarters of Group Sonatrach.
Under these agreements, part of the application of the MoU signed on 25 April 2019 in Algiers by Sonatrach and Italian group ENI, the two parties confirm their willingness to pursue their long-term cooperation and partnership.

This cooperation encompasses the field of hydrocarbon exploitation, in particular renewing long term natural gas sale/purchase contract to the Italian market and the partnership agreement of natural gas transport via Algeria-Tunisia-Italy pipeline beyond 1stOctober 2019.
Sonatrach and ENI had concluded a deal to extend by ten year the natural gas sale/purchase contract signed in 1977.
This agreement will allow Sonatrach to consolidate its position on the oil market and remain one of Italy’s main suppliers of natural gas.
It will also strengthen its historical relationship with one of its major customers and major player in the global energy scene.