Eni and Algeria's energy company Sonatrach have renewed a contract to supply Algerian natural gas to Italy until 2027 plus two further optional years, the Italian major said in a statement on Thursday.
"I am particularly pleased with the renewal of the gas supply contract and the level of the strategic partnership with Sonatrach which spans the exploration and production sector, marketing, transportation and renewables," Eni's chief executive Claudio Descalzi said.
The agreement inked on Thursday covers almost 15% of the gas imported into Italy, according to Eni's statement.
Eni and Sonatrach's gas supply and transportation partnership began over 40 years ago and encompasses major pipeline projects and many decades of successful supply to Italy, the statement said.
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