ENI, Edison to take Libyan gas

ENI SPA subsidiary Agip North Africa BV has signed a contract to supply 4 billion cu m/year of Libyan natural gas to Edison Gas, the natural gas arm of Italian energy firm Edison SPA.The firms signed a 24-year take-or-pay contract that takes effect in July 2002. Under terms of the agreement, Edison will buy 50% of the natural gas produced for the Italian market by Agip North Africa and Libya's National Oil Co. (NOC) from offshore and onshore concessions in Libya."The price of gas stipulated by take-or-pay contracts reflects international market conditions and foresees the possibility of price indexation," said ENI. The gas will be transported to Italy through a planned 600-km subsea e...

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