Edison and Eni signed an agreement to review the price formula of the long term gas supply contract from Libya. The new formula will be applied to the imported volumes starting from October 1, 2015 and shall be valid for three years.

The agreement closes the price review process started by Eni on October 1, 2015. The long term contract refers to the import of 4 billion cubic meters of gas per year.

Edison confirms that 2016 EBITDA should reach approximately 650 million euros as announced on May 10, 2016.

Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended.

About Edison

Edison, second largest gas company in Italy, is active in production and sale of electric power and hydrocarbons with an increasing interest abroad, especially in the E&P sector through 58 concessions and permits in Italy and 37 outside the country: Egypt, Norway, Croatia, Algeria, UK and Israel. In the E&P business the company can count on hydrocarbons reserves for a total amount of 360 million cubic meters equivalent, including reserves in the Egyptian concession of Abu Qir, of which Edison holds all the rights since 2009. Edison gas supply is 15.8 billion cubic meters and covers about a fifth of Italian needs.

About ENI

Eni is an integrated company that operates across the entire energy chain, employing some 78,000 people in 90 countries around the world. Scientific research and technological innovation are at the heart of its strategies for sustainable development.
Eni’s excellent portfolio of conventional oil assets with competitive costs and the strong resource base with options for anticipated monetization ensure a robust value generation at Eni’s upstream activity. The vertical integration provided by the large presence in the gas and lng markets, and the know-how in refining and chemical sectors enable the company to capture synergies and catch joint opportunities and projects in the marketplace.