OGZPY - Eni in talks with Egypt on boosting LNG supplies to Italy - Bloomberg

Eni (NYSE:E) is in talks to increase gas imports from Egypt to Italy and Europe, as Italy seeks ways to wean itself off Russian energy, Bloomberg reported on Wednesday. Eni (E) already has a deal with Egypt state energy firm EGAS to boost flows of liquefied natural gas to Europe by 3B cm/year, and according to Bloomberg, the new agreement would see Eni and Egypt add capacity for export to Italy beyond that level within the next two years. The talks involving Eni (E) come during various discussions by European Union members with gas producers around the world; the bloc is expected to sign a memorandum of understanding with Egypt and Israel for a deal that would see Israeli gas liquefied at Egyptian processing plants before being shipped to Europe. Eni (E) also said Russia's Gazprom (OTCPK:OGZPY) cut gas flows to Italy by ~15%, without receiving an explanation for the

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Eni in talks with Egypt on boosting LNG supplies to Italy - Bloomberg