By John Lee.
Eni is reported to be re-negotiating the terms of its Libyan gas supply contract with fellow Italian company Edison.
According to Platts, Eni CFO Massimo Mondazzi told analysts on a conference call after Eni's Q1 results announcement:
"Relating to the Edison contract, we had the final arbitration judgement at the end of 2015 ... But the contract is again under re-negotiation and we expect an outcome in the second quarter of this year."
A court last year accepted Edison's request for a price revision with a retroactive payment of about EUR 1 billion.
Eni has supplied significant volumes of gas from Libya to Edison since the early 2000s.