“We will probably reduce the overall volumes from these two contracts, with the intention of replacing those volumes with more LNG,” Monti told Reuters, adding that the Shell contract was part of this strategy.
He said the best strategy for the company is to be more flexible with LNG, “able to either move that gas to the Italian or European market, or to divert volumes to emerging economies”.
The agreement signed with Shell follows another long-term gas contract with US group Venture Global LNG.