SAN DONATO MILANESE, Italy – Sonatrach and Eni have signed a memorandum of understanding (MoU) concerning renewal of their gas supply/transportation arrangements through the Trans-Mediterranean (TransMed) pipeline.
The MoU establishes the basis for a new contractual framework over the next few years, taking into account changes in the market conditions.
TransMed, completed in 1994, takes gas from Algeria via Tunisia to Sicily and onto mainland Italy.
In its latest results statement, Eni said it expected continuing production increases this year at theZohr field in the eastern Mediterranean Sea, offshore Egypt, and at Kashagan in the Kazakh sector of the Caspian Sea.
Eni is also targeting 600 MMboe of equity additions through exploration this year.