Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/eni-signs-heads-of-agreement-with-statoil-on-revis.shtmlEni signs Heads of Agreement with Statoil on revision of terms in longterm gas supply contract
Eni has signed a Heads of Agreement with Statoil on the revision of the terms of its long-term gas supply contract.
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Eni has signed a Heads of Agreement with Statoil on the revision of the terms of its long-term gas supply contract. These revisionsinclude amongst others pricing and volume.
The arbitration proceedings initiated by Eni are therefore suspended for 30 days, allowing the parties to complete a detailed agreement in the context of a constructive effort to address a changing European gas market.
The HoA with Statoil is part of Eni's effort to renegotiate all third-party gas supply contracts, with the target of achieving a competitive portfolio by January 1st, 2016.
