Eni sells 49.9% of its stake in Algerian gas pipelines to Sanam

The Italian energy group Eni has agreed to sell 49.9% of its stake in strategic gas pipelines carrying Algerian gas in Italy to Sanam Gas Group for 385 million euros (436 million dollars), the two companies said Saturday.

The two companies mentioned that would make the gas lines work together, According to the news agency “Reuters”.

The CEO of the Italian company, Claudio Descalzi, had declared in an interview with “Al Arabiya” last Thursday that Eni presented a new strategy, which is a goal, not an ambition, for the year 2050, and to it were added interim objectives by 2030 for first and second band emissions in upstream activities to 2040. For first and second band emissions in all its other activities.

He added that as far as the third area is concerned, for the company, it is an essential part of its methodology and strategy, and the work has started now. in then on the strategy to achieve net emissions zero by 2050.

He explained that one of the important steps is to provide the company’s customers with electricity and gas as green products. This is why Eni has decided to separate the customer unit, especially since it has so many customers, which exceed 10 million, and the goal is to reach 15 million by 2030.

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