Italian energy company Eni and Croatian oil company INA, d.d. signed a bilateral cooperation agreement to jointly evaluate the opportunity to connect the gas transmission networks of the two countries, Eni announced Tuesday.
According to the statement, the gas interconnection initiative aims to leverage existing infrastructure, used until now for offshore gas production activities in the upper Adriatic Sea to additionally perform gas transport between the two countries.
'The interconnection will increase the degree of integration, security of supply, competitiveness and sustainability of the Croatian market, as well as of the Italian market, as the infrastructure will be able to operate reverse flows,' the statement read.
Furthermore, the development of this initiative will contribute to consolidating Italy's position as a gas hub in Europe, it said.
'INA is a medium-sized European oil company with a leading role in Croatian oil business and a strong position in the region,' according to the company's profile posted on its website.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr