Algeria-Italy: Sonatrach and Eni sign an agreement in the gas field

Sonatrach and the Italian group Eni signed, today, Monday in Algiers, an agreement in the gas field, in the presence of the President of the Republic, Mr. Abdelmadjid Tebboune, and the Italian Prime Minister, Mr. Mario Draghi, according to a Sonatrach statement.

The statement said “ Sonatrach’s CEO, Toufik Hakkar, and Eni’s CEO, Claudio Descalzi, signed in the presence of President of the Republic Abdelmadjid Tebboune, the Italian Prime Minister Mario Draghi, and delegations from both countries,  an agreement aimed at speeding-up the development of natural gas production projects through the combined efforts of the two companies, and the increase in the volume of exported gas using the available capacities of the Enrico Mattei gas pipeline (Transmed).

The same source indicated that this agreement will allow the two companies to “determine the levels of natural gas sales prices in line with market data for the year 2022-2023 in accordance with the contractual terms related to the price review.”

The statement added that this agreement confirms the close cooperation between the two companies in the field of exploration and production of hydrocarbons, as well as in the field of new and renewable energies, such as solar energy, hydrogen, biofuels, and the capture, storage and use of carbon dioxide.

It also confirms the desire of the strategic partner Eni to continue its investments with Sonatrach and to strengthen its presence in Algeria.

Finally, the statement of the group indicated that the commercial relationship with Eni, which is one of the most important clients of Sonatrach, dates back to 1977, as “the contract to sell natural gas allowed it to be supplied during the last two decades with a total volume of more than 300 billion cubic meters so far.”

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