Italian energy major ENI signed an agreement with the Libyan rebel leadership on Monday aimed at resuming its massive operations in the war-torn country and re-starting gas supplies to Italy. The deal also includes an urgent shipment of fuel for the Libyan population.
The agreement signed in Benghazi "strengthens co-operation in Libya" between ENI and the NTC (National Transitional Council), ENI said in a statement. ENI has been in Libya - a former Italian colony - since 1959 and is by far the biggest foreign energy producer in the oil-rich country.
ENI and the NTC "are committed to creating the conditions for a rapid and complete recovery of ENI''s activities in Libya and to doing all that is necessary to restart operations on the Greenstream pipeline," it added. Greenstream connects Libya to Italy and accounts for a large share of Italian gas imports. The pipeline was suspended earlier this year.
ENI said it would also help rebels evaluate the state of energy infrastructure and provide "a first supply of refined petroleum products". ENI chief executive Paolo Scaroni said on Thursday that future fuel deliveries to Libya would be paid for through crude oil supplies from Libya. Scaroni said it could take up to 18 months to get back to normal activities because of extensive damage and the security situation on the ground.