ENI announces a new deal with Gazprom

EMI, the Italian oil and gas company announced recently it had signed a new deal with the Russian gas giant Gazprom. The deal involves lower prices regarding Italian imports.

The contract between the two sides went through a revision and the Italian side received good news. “This deal involves a reduction in supply prices and an important change in the price indexation to fully align it with the market,” was written in an official ENI statement.

ENI Chief Executive Claudion Descalzi traveled to Russian where he met his Russian counterpart. The Italian even announced the improved price will be applied retroactively, so ENI will get a bonus discount for what they have already bought in 2014.

Gazprom did not want to comment on its new prices regarding the deal with ENI. The Italian company operates in almost 80 countries and currently it is Italy's largest industrial company. The Italian government owns about 30 percent out of ENI.