By Nathan Allen

Eni SpA (ENI.MI) said Thursday that it has signed a contract with Algerian state oil company Sonatrach to extend their existing natural-gas supply agreement until 2027.

The agreement, which includes the option to extend for a further two years, is the latest incarnation of a an arrangement that has been in place for more than 40 years and accounts for around 15% of gas imported into Italy, Eni said.

Neither company disclosed financial terms of the contract.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

May 16, 2019 08:06 ET (12:06 GMT)

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