Eni re-negotiates with Edison over Libya Contract

By John Lee.

Eni is reported to be re-negotiating the terms of its Libyan gas supply contract with fellow Italian company Edison.

According to Platts, Eni CFO Massimo Mondazzi told analysts on a conference call after Eni's Q1 results announcement:

"Relating to the Edison contract, we had the final arbitration judgement at the end of 2015 ... But the contract is again under re-negotiation and we expect an outcome in the second quarter of this year."

A court last year accepted Edison's request for a price revision with a retroactive payment of about EUR 1 billion.

Eni has supplied significant volumes of gas from Libya to Edison since the early 2000s.

(Source: Platts)

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