Eni : signs final agreement with Statoil on revision of terms in long-term gas supply contracts

The final agreement, which follows the Heads of Agreement signed on 27 February 2014, implies the end of the arbitration proceedings previously initiated by Eni.

San Donato Milanese (Milan), 31 March 2014 - Eni has today signed the final detailed agreement with Statoil on the revision of the terms of its long-term gas supply contract. This revision reflects the changed conditions of the gas market.

The final agreement, which follows the Heads of Agreement signed on 27 February 2014, implies the end of the arbitration proceedings previously initiated by Eni.

The agreement with Statoil, which is particularly important considering recent international political developments, is part of Eni's effort to renegotiate all third-party long-term gas supply contracts, with the target of achieving a competitive portfolio by 1 January 2016.

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