Italian pipeline company Snam on 10 January completed the €405mn ($439mn) purchase from compatriot Eni of 49.9% of Eni’s stakes in the 33.5bcm/y Trans-Mediterranean gas pipeline that links Algeria and Tunisia with Italy, a deal that was first announced in late 2021 (MEES, 3 December 2021).

The two Italian companies’ stakes have been transferred to a new company, ‘SeaCorridor’, which as a result now has 100% of the sub-sea section of the pipeline linking Tunisia and Italy and 50% of the cross-Tunisia section. Algerian state firm Sonatrach has the remaining 50% of the Tunisia section and fully owns the section of the pipeline within Algeria. (CONTINUED - 231 WORDS)