Eni, Snam Partner To Secure Algerian Gas Supply to Italy

Journal of Petroleum Technology 

Eni has agreed to sell 49.9% of its combined stake in companies operating onshore gas pipelines running from Tunisia's border with Algeria to the Tunisian coast (TTPC) and offshore gas pipelines traversing the Mediterranean Sea from Tunisia to Italy (TMPC) to Italian energy infrastructure operator Snam. Snam is paying 385 million euros ($436 million) for the stake. The company operates in Albania (AGSCo), Austria (TAG, GCA), France (Terega), Greece (DESFA), Italy, the UAE (ADNOC Gas Pipelines), and has interests in the UK Interconnector and the Trans Adriatic Pipeline (TAP). Snam also recently entered markets in China and India, according to the company's website. Under the agreement announced on 27 November, Eni will transfer its ownership stakes in TTPC and TMPC to NewCo, a newly incorporated Italian company in which Eni will hold a 50.1% controlling interest; Snam will self-finance its purchase of 49.1%.

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