Eni SpA News

Eni SpA said Wednesday it plans to sell its controlling stake in Italian natural-gas grid Snam SpA, in a multibillion-euro deal allowing the oil giant to free funds to finance its biggest-ever exploration and production-expansion program.

The affirmation reflects the stable performance of the future flows as well as the reduced delivery risk for the underlying gas contracts through the usage of the new Nord Stream pipeline.

Eni engages in the oil and gas exploration and production, gas marketing operations, and management of gas infrastructures.

Italian energy giant Eni SpA Wednesday said it had made a new gas discovery offshore Mozambique at the Coral 1 exploration prospect in what it calls Area 4. - With these new results at Coral 1, Eni estimates the resources exclusively located in Area 4 range between 15 trillion and 20 trillion cubic feet of gas in place.

Galp Energia announces the agreement for the acquisition of Eni's stakes in the natural gas distribution companies Setgas and Lusitaniagas Galp Energia has signed an agreement with Eni, S.p.A for the acquisition of ENI's stakes of 21.9% of Setgas and 10.6% of Lusitaniagas.