Eni and Snam Sign Contract for Methane Gas Stations
December 04 2017 - 10:22AM
Dow Jones News
By Nathan Allen
Eni SpA (ENI.MI) said on Monday that it has signed a contract
with natural gas infrastructure provider Snam SpA (SRG.MI) to
jointly develop a network of methane gas stations around Italy.
The Italian oil-and-gas major said the 20-year contract lays out
plans for Snam to build and maintain an initial batch of 14
low-emission gas plants within Eni's existing network of service
stations.
Eni said it would pay Snam between 20 million euros ($23.8
million) and EUR40 million for its services.
The agreement forms part of Snam's broader strategy to invest
EUR150 million by 2021 to roll out 300 compressed natural gas
stations around the country.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
December 04, 2017 10:07 ET (15:07 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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