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Eni to reopen Libya pipeline by mid-October

Italian engery giant 'in a hurry' to ship gas, says CEO

31 August, 14:42
Eni to reopen Libya pipeline by mid-October (ANSA) - Trento, August 31 - Italian energy giant Eni said Wednesday it hopes to reopen the Libya-Italy natural gas pipeline by mid-October.

"We are working towards the goal of relaunching [the pipeline] by October 15," said Paolo Scaroni, CEO of Eni.

"Perhaps it's a bit ambitious," he added. "But I'm in a hurry to restart gas shipments since facing winter with one of our supply sources suspended concerns me a great deal".

Inaugurated in 2004 by fallen Libyan dictator Muammar Gaddafi and Italian Premier Silvio Berlusconi, the pipeline, known as Greenstream, transported 280 billion cubic feet per year of natural gas from western Libya to Italy until Eni shut it down in February amid growing turmoil in the North African nation.

On Monday, Eni signed an accord with the Libyan Transitional Council "for the provision of enormous quantities of gas and oil to meet the needs of the people", according to Berlusconi.

"We have agreed with the council authorities to resume production, even on fields that we do not yet know the condition of," said Scaroni.

When asked if the developments would ease fuel costs, Scaroni said "that depends on the cost of crude, the market and many factors".

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