News

29 October 2021

Gazprom Export and ENI Agreed to Revise Gas Supply Contracts Terms

Today, on October 29, Gazprom Export LLC and Italian company ENI S.p.A. signed an agreement to revise the terms of their existing long-term gas supply contracts.

Thus, the disputes between the parties are settled, the ongoing arbitration proceedings will be terminated.

The amendments are made in light of the current and future market development.

‘I am very pleased that we have settled the current disputes with our Italian partners after negotiations, outside arbitration proceedings. It became possible due to the trust-based relations between our companies that has developed over decades of successful cooperation. I am sure that our partnership in the field of gas supplies has a great future’, said Elena Burmistrova, Deputy Chairman of Gazprom’s Management Committee and Director General of Gazprom Export.
 

Background

ENI S.p.A. is the oldest and the main partner of Gazprom Group in the Italian market. The first agreement with the company on the long-term gas supply from the USSR to Italy was signed back in 1969. Nowadays Gazprom supplies natural gas to ENI under three long-term contracts.

 

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