Eni, Ascopiave to Develop Gas Sales in Northern Italy

Italian major Eni has today announced that it will join forces with gas supplier and distributor Ascopiave to increase the delivery of gas and electricity to Northern Italy.

The agreement, which was reached in the signing of a Letter of Intent (LoI), will see the two companies initially aim to supply customers in the Triveneto region of the country. The LoI also includes an option to expand later into further areas.

Under the terms of the LoI, one or more special purpose entities will be established into which Eni and Ascopiave's respective shares in sales companies in northeast Italy and other marketing assets can be merged. A more detailed project scope will be released in the second half of this year.

In a statement today, Eni said that the agreement would be mutually beneficial to the signatories, with both aiming to increasing competitivity through sharing of experience on product quality and customer service.

Eni is the largest supplier and producer of gas in the whole of Italy, while Ascopiave is the biggest supplier to customers in the northeast of Italy, supplying 850,000 customers.