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Italy’s Eni Signs US$8B Gas Deal with Libya

Italy’s Eni Signs US$8B Gas Deal with Libya

Italian energy company Eni (ENI.MI) and Libya’s National Oil Corporation (NOC) have signed an $8 billion gas production deal, Eni’s chief executive Claudio Descalzi said last week.

The deal, which was signed against the backdrop of a trip by Italian Prime Minister Giorgia Meloni to Tripoli, will also entail carbon capture projects and solar energy, Descalzi said at a news conference.

The deal will have a duration of 25 years and have production capacity of up to 800 million cubic feet of gas per day, NOC chairman Farhat Bengdara said.

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