- Eni (E +0.9%) strikes a deal with Dutch firm GasTerra for long-term natural gas supplies at a lower price, as it renegotiates contract terms with various companies amid weaker demand in Europe.
- Earlier this year, Eni threatened to take GasTerra, in which Shell (RDS.A, RDS.B) and Exxon (NYSE:XOM) each own a 25% stake, to arbitration over contracts it said made long-term gas supplies unprofitable.
- Eni is in arbitration with Statoil (STO) as it seeks changes to how much it pays for gas, but the outcome isn't expected for many months.