Eni and Algeria's state oil company Sonatrach, have signed an agreement whereby the Italian company will import 20% of Italy's natural gas needs from Algeria.

The Italian company this year, imported 9.8 billion cubic meters of Algerian natural gas, which represent 16% of the Italian demand.

Claudio Descalzi (photo), CEO of Eni, stressed that the agreement was concluded on the basis of commercial terms and conditions in line with market conditions and under a framework agreement signed by both parties on November 25, 2016.

He added he was satisfied with the strategic collaboration with Sonatrach, which also covers prospecting, production and a recent agreement on renewable energies, Energy-pedia news reports.

Let’s be reminded that the two sides, a few weeks ago, signed a cooperation agreement that promotes future investments in the energy sector.

Anita Fatunji