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Enel Extends Gas Supply Contract with Sonatrach

Source: www.gulfoilandgas.com 6/26/2019, Location: Africa

Enel and Algerian state-owned oil and gas company Sonatrach agreed to extend their current gas supply contract, set to expire at the end of 2019. The agreement signed today provides for an eight-year supply from Algeria, with effect as of January 1st, 2020, with the possibility to further extend for two additional years under mutual agreement.

The new contract confirms and consolidates the historical partnership between the two companies, and reflects the evolution of the Italian gas market since the first supply contracts were signed in 1991. The agreement fits with Enel’s strategy to make its gas portfolio more diversified and flexible, ensuring it follows market changes, to grant a competitive supply for its customer base. The new contract contributes to provide an additional security of supply and stability to the overall Italian gas system.

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