The contract was signed by Sonatrach's deputy chairman for marketing, Hachmei Mazighi, and Edison's executive director, Nicolas Monti, in the presence of the Algerian company's CEO, Rachid Hachichi, and the Italian group's director of Gas Midstream, Energy Management and Optimization and member of the Executive Committee of Edison Spa, Pierre Vergerio.
The deal, preceded by the renewal of other contracts with Italians Eni and Enel, will allow Sonatrach to strengthen its position in the Italian market and remain one of its major suppliers of natural gas.
Mazighi said the agreement, along with those concluded with Eni and Enel, will allow Sontarach to export 13 billion m3 of natural gas per year to the Italian market through the Trans-Mediterranean Pipeline, also called Enrico Mattei gas pipeline, until 2027, with a possibility to be extended to 2029 (two optional years).
Mazighi said with the 13 billion m3 a year, and other contracts in the process of finalization, Sonatrach will reach in 2021 "sixty percent of its transport capacity through Enrico Mattei gas pipeline," the outcome of partnership concluded in 1977 between Sonatrach and Eni.
Monti, for his part, said he was "very pleased" with the signing of the renewal agreement, which is "very important" for Edison, for Italy, and also for relations between the two sides.
He added that the first contract between Sonatrach and Edison was signed in 2008 which, through the latest renewal agreement, will be extended to 2028, with an option of two additional years.