Eni SpA (SpA) Friday confirmed it signed a memorandum of understanding with China Petroleum & Chemical Corp. (SNP), or Sinopec, as Italy's biggest oil and natural gas company strengthens its ties with Chinese hydrocarbon firms.
Eni SpA (SpA) Friday confirmed it signed a memorandum of understanding
with China Petroleum & Chemical Corp. (SNP), or Sinopec, as
Italy
's
biggest oil and natural gas company strengthens its ties with Chinese
hydrocarbon firms.
Eni confirmed a report from Italian newswire ANSA saying the memorandum had
been signed.
ANSA cited Chief Executive Paolo Scaroni as saying that Eni was particularly
interested in the development of shale gas in
China
.
The deal "signed today allows us to analyze together a series of
opportunities in
China
and
outside
China
,"
said CEO Scaroni, according to ANSA. "I believe that if shale gas is found
in
China
, its
development will be strong."
Eni declined to comment details. ANSA wrote details of the deal will be
announced in the coming days.
At the start of the year, Eni signed a deal with China National Petroleum
Corp., or CNPC, as part of a strategy to strengthen its presence in the
hydrocarbon-hungry
Far East
and to use its shale gas
knowledge.
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