Snam SpA and Fluxys SA Sign Memorandum of Understanding; Complete Joint Acquisition of Eni SpA's Subsidiaries' Stakes in Interconnector (UK), Interconnector Zeebrugge Terminal and Huberator

Snam SpA announced that it has signed with Fluxys SA a Memorandum of Understanding to jointly take actions for the development of physical reverse flows from the Italian-Swiss border at Passo Gries through Switzerland and into Germany. Both companies will evaluate the necessary investments in their respective infrastructure and will discuss the organization of a coordinated market consultation by the end of 2012. Snam also announced that it has closed with Fluxys the transaction through which each company acquires 50% of Eni’s subsidiaries' stakes in Interconnector (UK), Interconnector Zeebrugge Terminal and Huberator. This joint acquisition follows the agreement that Fluxys, Snam and Eni reached in February 2012. With the completion of this transaction, Snam and Fluxys acquire, on a 50/50 basis, 16.41% stake (5% Eni International BV and 11.41% Distrigas SA) in Interconnector (UK), owner and operator of the subsea pipeline between the United Kingdom (Bacton) and Belgium (Zeebrugge) providing a strategic bi-directional link between the United Kingdom and the continental gas trading places, 51% stake (Distrigas) in Interconnector Zeebrugge Terminal SCRL, the terminal and compressor facilities linking the Interconnector pipeline to the Belgian gas transmission system, 10% stake (Distrigas) in Fluxys' subsidiary Huberator, operator and provider of hub services in Belgium. The total consideration for the above mentioned stakes amounts to EUR 145 million.