Gazprom Strengthens Sinergie Italiane's Gas Supply by 500MM Cubic Meters

Sinergie Italiane announced additional gas supply from Gazpromexport of further 500 millions cubic meters a year.

The new volume increases the quantity contracted in August 2009 on 'take or pay' basis of about 1 billion cubic meters yearly for 3 years, effective from October 2009 and 0,5 for 7 years. The total annual supply by Gazpromexport therefore grows to 1.5 billion cubic meters per year for further 11 years, starting from October 2010.

"The new supply from Gazprom follows a number of operations concluded by Sinergie Italiane in the international market since its establishment, that confirms the Company as a reliable operator and Partner within the energy community. The additional supply stabilizes the base supply portfolio, leaving wide capacity to exploit further opportunities within the spot market at European level which still shows good liquidity," Flavio Battista, Managing Director of the company, said.

"Sinergie Italiane is consolidating its presence in national and international markets, confirming its mission to be a dynamic and competitive player, as it demonstrated in occasion of the award of the first spot regasification slot at Rovigo LNG Terminal and with the related LNG import from Equatorial Guinea."

Sinergie Italiane is the Joint Venture established about two years ago between Ascopiave, Enia (today Iren), Blugas, Ambiente Energia Brianza (Seregno), Aemme Distribuzione (Legnano) and Utilità progetti & sviluppo, in order to create a common supply system that, supported by skilled resources seconded by the single partners and being able to rely on a captive market of
considerable dimension (5 billions cubic meters per year), allows to obtain important efficiencies in the gas acquisition process, supporting the partners expansion projects on respective territories.

Sinergie Italiane is going to close the second year of activity on September 30, 2010 with a turnover in excess of 1 billion euros.

Gildo Salton, Chairman of Ascopiave, Sinergie Italiane shareholder, said, "The new supply from Gazprom gives further strength to the the role of main actor that our Group wants to play in the national and international fields and is fully consistent with the strategic aims of integration of its activities up to the upstream gas chain. We therefore think that those initiatives can give a further boost to the aggregation process that we have been pursuing with success and strength in the last years.

"The growth and the success of Sinergie Italiane - said Paolo Abati Chairman and General Manager of Estra Commercial Company in Tuscany – confirm the need for aggregation and partnership to be competitive and witness the value of being flexible to exploit all the
opportunities arising in the energy free market; thanks to this vision today Sinergie Italiane is one of the top players in the gas business and one of the most important shippers both at national and European level."