Snam and Eni announced the fulfillment of the conditions precedent set forth in the sale and purchase agreement entered into on November 27th 2021 for the acquisition by Snam of a 49.9% stake in a newly incorporated Italian company to which the Eni Group contributed the equity interests held in the companies operating the two groups of international gas pipelines connecting Algeria to Italy. More specifically the onshore gas pipelines running from the Algerian and Tunisian borders to the Tunisian coast (the so-called "TTPC pipeline") and the offshore gas pipelines connecting the Tunisian coast to Italy (the so-called "TMPC pipeline"). [1].

Snam and Eni are carrying out further actions to complete the closing of the transaction, expected within the first half of January 2023.

[1] For any further information about the transaction, please refer to the joint press release issued by Snam and Eni on 27 November 2021 (Eni and Snam launch partnership on gas pipelines between Algeria and Italy)

About Snam

Snam is one of the world’s leading energy infrastructure operators and ranks among Italy’s largest listed companies, by market capitalization. Through a sustainable and technologically advanced network, Snam guarantees the security of supply and is a key enabler in the energy transition. Through its international footprint Snam operates in Albania (AGSCo), Austria (TAG, GCA), France (Teréga), Greece (DESFA), Italy, UAE (ADNOC Gas Pipelines) and UK (Interconnector UK) and has recently started activities in China and India. Snam is also one of the leading shareholders in TAP (Trans Adriatic Pipeline).
Since 2001 Snam is a public company, listed in the FTSE MIB index of the Italian Stock Exchange.

About Eni

Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.