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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1909)	11/19/2000 10:46:59 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Eni Will Sell Libyan Natural Gas to Gaz de France From 2004 By Vladimir Todres Rome, Nov. 16 (Bloomberg) -- Italy's Eni SpA agreed to sell some of its Libyan natural gas to Gaz de France under a contract analysts say may bring in annual revenue of about $200 million at current prices and will boost Eni's share of gas markets abroad. Europe's fourth-largest oil and gas company will sell Gaz de France 2 billion cubic meters of gas a year, starting from 2004, Eni said in a statement faxed to Bloomberg News. The company didn't disclose the price for the gas. "The price should be competitive to what the company gets from Edison SpA (which also buys gas from Eni), and that's about $3 per 1,000 cubic feet," said Caroline Cook, an analyst at Deutsche Bank in Edinburgh. "The important thing is the potential for further links with Gaz de France and the French gas market." Starting from 2004, Eni plans to produce 8 billion cubic meters of gas a year in Libya as part of a $5.6 billion gas development project. It has already contracted to sell 4 billion cubic meters of this amount to Edison. Eni hopes to find a buyer for the remaining 2 billion cubic meters by the end of the year, Mincato said. Last month, Eni agreed to supply 1.5 billion cubic meters of natural gas a year to Spain's Iberdrola SA from 2002, in another attempt to win a share of gas markets abroad.