CIR : Sorgenia: new gas supply contract

Previous long-term contract terminated by mutual consent Milan, July 29 2014 - Sorgenia announces that a new agreement has been signed with Eni for the supply of gas and at the same time the long-term contract for the purchase of gas from Libya signed in 2004 has been terminated by mutual consent. The new contract has a duration of approximately six months. Further supply agreements for subsequent periods will be the subject of specific negotiations in the next few months. The new contract envisages the issue by Sorgenia of the usual commercial guarantees. On its part, the shareholder CIR will issue a corporate guarantee for 13.9 million euro until ratification is obtained under the "ex art. 182 bis" procedure. Any guarantee issued for the previous contract will expire on completion by Sorgenia of all the obligations relating to the transactions regulated by this agreement.