In the presence of the Algerian President Abdelmadjid Tebboune and the Italian Prime Minister Mario Draghi, the President of Sonatrach, Toufik Hakkar, and the CEO of Eni, Claudio Descalzi have signed an agreement that will allow Eni to increase the quantities of gas imported through the TransMed / Enrico Mattei pipeline in Algiers
This agreement will allow to exploit the pipeline's available transportation capacities to ensure greater supply flexibility, gradually providing increasing volumes of gas from 2022, up to nine bcm per year in 2023-24.
The agreement between Eni and Sonatrach, whose foundations have been laid during the previous visit of Descalzi and the Italian foreign minister Di Maio to Algiers in 28 February, was defined and signed in record time following intense negotiations between the top management of the two companies.
The new gas volumes covered by the agreement are also the result of the close collaboration in the development of upstream gas projects, leveraging Eni’s distinctive fast track model, which is bringing a significant acceleration to the production potential of the Algerian fields.
Eni CEO Descalzi said, “Today is a special day for the relations between Italy and Algeria, in particular for Eni and Sonatrach: thanks to the close the long-standing collaboration between the two companies, it was possible in a short time and with an enormous joint effort to sign this important agreement that further consolidates the partnership between the companies and strengthens the cooperation between our countries.”