Eni Inks Contract With Statoil For Gas Price Cuts

Hira Shahnawaz Akhtar

Published onFebruary 28, 2014

Updated on May 13, 2021

Eni SpA (ADR) (NYSE:E) (BIT:ENI), the largest Italian oil and gas company, has recently renegotiated a gas supply agreement in order to cut its long-term gas purchase costs. This is part of Eni’s long-term effort to achieve a competitive portfolio by cutting its procurement costs and renegotiating volume terms.

Heads of Agreement contract with Statoil

A press release issued by Eni SpA (ADR) (NYSE:E) (BIT:ENI) yesterday announced that Eni has signed a Heads of Agreement contract with Statoil ASA (NYSE: STO) on revision of terms in the long-term supply agreement between the two companies. Both price and volume terms were renegotiated in this new contract.

“The deal, which could eventually lead to lower gas...

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Hira Shahnawaz Akhtar

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.

Eni Inks Contract With Statoil For Gas Price Cuts

Heads of Agreement contract with Statoil

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