By Nathan Allen

Eni SpA (ENI.MI) said Thursday that it has signed a preliminary agreement with Algeria's state oil company Sonatrach to renew their long-term gas-supply arrangement.

Under the agreement Sonatrach supplies natural gas to the Italian energy company, which transports it via a pipeline across the Mediterranean to be sold in European markets.

Eni said the agreement sets the basis for a new contractual framework that takes into account changes in underlying market conditions.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 25, 2019 07:56 ET (11:56 GMT)

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