Reuters: Italy's Sorgenia aims to renegotiate gas contracts by Sept 2013

Sorgenia, the energy unit of Italian holding company CIR, has reached a temporary agreement on long-term gas contracts aimed at renegotiating pricing by September next year.

Sorgenia receives Libyan gas via long-term contracts with Italian oil and gas group Eni.

Arbitrations and renegotiations of take-or-pay contracts have become widespread across Europe's gas industry as low spot prices on the wholesale market make existing long-term contracts unprofitable.  MORE