{"id":11272,"date":"2021-12-02T11:34:27","date_gmt":"2021-12-02T11:34:27","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11272"},"modified":"2021-12-02T11:34:27","modified_gmt":"2021-12-02T11:34:27","slug":"algeria-tunisia-eni-snam-launch-partnership-on-gas-pipelines","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/algeria-tunisia-eni-snam-launch-partnership-on-gas-pipelines\/","title":{"rendered":"ALGERIA\/TUNISIA: Eni, Snam Launch Partnership On Gas Pipelines"},"content":{"rendered":"<p><strong>\u00a0Eni<\/strong> and Snam have entered into an agreement for the sale by Eni to Snam of a 49.9% stake (directly and indirectly owned) in certain companies operating two groups of international gas pipelines connecting Algeria to Italy. In particular, the perimeter of the transaction includes the onshore gas pipelines running from the Algeria and Tunisia borders to the Tunisia coast (TTPC), and the offshore gas pipelines connecting the Tunisian coast to Italy (TMPC).<\/p>\n<p>Pursuant to the agreement, Eni will contribute its entire ownership interests in the two pipelines to a newly incorporated Italian company (NewCo) in which Eni will continue to hold a 50.1% stake, whereas the remaining 49.9%\u00a0<a id=\"_ftnref2\" href=\"https:\/\/www.snam.it\/en\/Media\/Press-releases\/2021\/Eni_Snam_pipelines_Algeria_Italy.html#_ftn2\" name=\"_ftnref2\">[2]<\/a>\u00a0will be sold to Snam for a purchase price equal to 385 million euros. Snam will fund the payment of the purchase price with its own financial resources.<\/p>\n<p>The transaction will create synergies among the parties&#8217; respective areas of expertise in gas transport on a strategic route for the security of the natural gas supply in Italy, enabling potential development initiatives within the hydrogen value chain from North Africa.<\/p>\n<p>Eni CEO\u00a0Claudio Descalzi\u00a0commented:\u00a0<em>&#8220;This transaction allows us to free up new resources to be used on our energy transition path, while at the same time maintaining the management of a strategic infrastructure with Snam to ensure the security of natural gas supply to the country. Gas will play a key role in the transition of energy systems to zero-emission models, and it is important to maintain the availability and diversification of supply routes for this resource.&#8221;<\/em><\/p>\n<p>Marco Alver\u00e0, Snam CEO said:\u00a0<em>&#8220;This deal consolidates Snam\u2019s central role in Italy\u2019s security of supply as well as in energy transport from the Mediterranean region. Through this transaction, Snam is bridging its infrastructure towards North Africa, which represents a key area for gas supplies to Italy and forward looking for hydrogen development. In the future, North Africa could also become a hub for producing solar energy and green hydrogen.&#8221;<\/em><\/p>\n<p>The transaction supports Eni&#8217;s broader strategy to optimize its portfolio and accelerate growth in sectors related to the energy transition. Snam will benefit from its position on a strategic route for the security of natural gas supplies to Italy and the opportunity to support potential developments within the hydrogen value chain also by means of natural resources in North Africa.<\/p>\n<p>The agreement also provides for an earn-in and earn-out mechanism to be calculated on the basis of the revenues that will be generated by the target companies. The target companies generated a net income (100% of Eni&#8217;s stake) of around 90 million euros in 2020.<\/p>\n<p>Eni and Snam will exercise joint control over the NewCo, on the basis of equal governance principles and both companies will therefore consolidate NewCo through the equity method.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Eni and Snam have entered into an agreement for the sale by Eni to Snam of a 49.9% stake (directly and indirectly owned) in certain companies operating two groups of &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/algeria-tunisia-eni-snam-launch-partnership-on-gas-pipelines\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":11273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[121,768,2046,8101,2578],"class_list":["post-11272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-algeria","tag-eni","tag-pipelines","tag-snam","tag-tunisia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Eni-Snam.jpg?fit=460%2C258&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2VO","jetpack-related-posts":[{"id":13106,"url":"https:\/\/www.oilnewskenya.com\/index.php\/algeria-eni-snam-partnership-for-gas-pipelines-finalised\/","url_meta":{"origin":11272,"position":0},"title":"ALGERIA: Eni-Snam Partnership for Gas Pipelines Finalised","author":"","date":"January 11, 2023","format":false,"excerpt":"10th January saw the closing of Snam\u2019s acquisition of a 49.9% of the equity interest directly and indirectly held by Eni in the companies operating two groups of international gas pipelines connecting Algeria to Italy. More specifically, the scope of the transaction includes the onshore gas pipelines running from the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Eni-Snam-2.png?fit=680%2C383&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Eni-Snam-2.png?fit=680%2C383&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Eni-Snam-2.png?fit=680%2C383&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8770,"url":"https:\/\/www.oilnewskenya.com\/index.php\/global-gas-industry-set-to-resume-growth-post-pandemic-bnef\/","url_meta":{"origin":11272,"position":1},"title":"Global Gas Industry Set to Resume Growth Post-Pandemic &#8211; BNEF","author":"","date":"August 6, 2020","format":false,"excerpt":"After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the Covid-19 pandemic reduces energy consumption across the global economies. However, the resulting low gas prices, as well as clean air and climate policies, will promote further switching to\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Major-Gas-Discoveries-2019.jpg?fit=512%2C382&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12986,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tunisia-production-starts-at-the-tataouine-photovoltaic-plant\/","url_meta":{"origin":11272,"position":2},"title":"TUNISIA: Production Starts at the Tataouine Photovoltaic Plant","author":"","date":"December 15, 2022","format":false,"excerpt":"Eni has announced the beginning of production at the photovoltaic plant under its operation in Tataouine, southern Tunisia, following connection to the national grid. The event was celebrated today during a ceremony that saw the attendance of Neila Gonji, Tunisia\u2019s Minister of Industry, Energy and Mines, and local authorities. The\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Tunisia-tataouineI-photovoltaic-plant.jpg?fit=1000%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Tunisia-tataouineI-photovoltaic-plant.jpg?fit=1000%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Tunisia-tataouineI-photovoltaic-plant.jpg?fit=1000%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Tunisia-tataouineI-photovoltaic-plant.jpg?fit=1000%2C600&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12137,"url":"https:\/\/www.oilnewskenya.com\/index.php\/algeria-eni-and-sonatrach-agree-to-increase-gas-supplies-through-transmed\/","url_meta":{"origin":11272,"position":3},"title":"ALGERIA: Eni and Sonatrach agree to increase gas supplies through Transmed","author":"","date":"April 11, 2022","format":false,"excerpt":"In the presence of the Algerian President Abdelmadjid Tebboune and the Italian Prime Minister Mario Draghi, the President of Sonatrach, Toufik Hakkar, and the CEO of Eni, Claudio Descalzi signed today in Algiers an agreement that will allow Eni to increase the quantities of gas imported through the TransMed \/\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/Eni-Logo.jpg?fit=474%2C582&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12718,"url":"https:\/\/www.oilnewskenya.com\/index.php\/algeria-eni-announces-the-start-of-production-from-2-gas-fields-within-the-new-berkine-south-contract\/","url_meta":{"origin":11272,"position":4},"title":"ALGERIA: Eni Announces the Start of Production from 2 Gas Fields within the New Berkine South Contract","author":"","date":"October 12, 2022","format":false,"excerpt":"Eni announces the recent start of production from two gas fields related to the Berkine Sud contract in Algeria, just 6 months after the contract was awarded through an accelerated development (fast track). The production of the Berkine South, which is the first contract to be signed under the new\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Algeria-Berkine-Basin.png?fit=850%2C850&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Algeria-Berkine-Basin.png?fit=850%2C850&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Algeria-Berkine-Basin.png?fit=850%2C850&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Algeria-Berkine-Basin.png?fit=850%2C850&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13189,"url":"https:\/\/www.oilnewskenya.com\/index.php\/algeria-eni-sonatrach-sign-strategic-agreements-to-accelerate-emissions-reduction-strengthen-energy-security\/","url_meta":{"origin":11272,"position":5},"title":"ALGERIA: Eni, Sonatrach Sign Strategic Agreements to Accelerate Emissions Reduction &#038; Strengthen Energy Security","author":"","date":"January 23, 2023","format":false,"excerpt":"Eni CEO, Claudio Descalzi, and the CEO of Sonatrach, Toufik Hakkar, signed today in Algiers two agreements which outline future joint projects on energy supply, energy transition and decarbonisation. The agreements were signed in the presence of the Prime Minister of Italy, Giorgia Meloni, and the President of the People's\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Algeria-Eni-Sonatrach-Agreement.jpg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Algeria-Eni-Sonatrach-Agreement.jpg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Algeria-Eni-Sonatrach-Agreement.jpg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Algeria-Eni-Sonatrach-Agreement.jpg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Algeria-Eni-Sonatrach-Agreement.jpg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11272"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11272\/revisions"}],"predecessor-version":[{"id":11274,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11272\/revisions\/11274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/11273"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}