Italian energy group Enel and Algerian state-owned oil and gas company Sonatrach agreed to extend their current gas supply contract that will expire at the end of the year, the Italian company announced Wednesday.
The newly-signed agreement provides for an eight-year gas supply from Algeria to Italy, extendable for two additional years, according to the company's statement.
The contract will be effective as of Jan. 1, 2020.
'The new contract contributes to provide an additional security of supply and stability to the overall Italian gas system,' the company said.
By Gokce Kucuk