Salem Radio Network News Wednesday, May 18, 2022

Business

Eni agrees to sell Snam 49.9% stake in Algeria gas pipelines for 385 million euros

MILAN (Reuters) – Italian energy group Eni has agreed to sell gas group Snam 49.9% of its stake in strategic pipelines carrying Algerian gas into Italy for 385 million euros ($436 million), the two companies said on Saturday.

The pipelines will be jointly controlled by the two companies, they said.

($1 = 0.8836 euros)

(Reporting by Stephen Jewkes, editing by Giselda Vagnoni)

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