- The new agreement consolidates the relationship between the two Groups and will grant an eight-year supply from Algeria to Italy, extendable for two additional years
- The new contract terms enable Enel to make its gas supply portfolio more diversified, competitive and flexible, providing security of supply to the Italian System
Rome, June 26th, 2019 – Enel and Algerian state-owned oil and gas company Sonatrach agreed today 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.