November 12, 2019 / 2:53 PM / a month ago

Italy's Edison agrees to extend Algeria gas supply deal to 2027

MILAN (Reuters) - Italian energy group Edison said on Tuesday it had reached an agreement with Algeria’s Sonatrach to extend a gas supply contract to 2027.

Edison, owned by French utility EDF, said the contract would allow it to take one billion cubic meters of gas per year from Algeria for 8 years.

The company said the agreement would allow Italy to diversify its gas supply sources.

Italy, which imports more than 90% of its gas, gets around 40% of its supplies from Russia.

Reporting by Stephen Jewkes; editing by James Mackenzie

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