Eni offers to Suez a diversified portfolio of consideration assets
as part of the acquisition of Distrigas

The assets are part of Eni's optimization of its portfolio management and include assets
in the upstream sector, power assets as well as gas assets.

San Donato Milanese (MI), 29 May 2008 – Simultaneously to the signing of the agreement for the acquisition of the 57.243% holding in Distrigas, Eni and Suez have entered into a framework agreement for the disposal to Suez of certain assets and/or activities.

The assets are part of Eni's optimization of its portfolio management and include assets in the upstream sector, power assets as well as gas assets.

The Framework Agreement envisage the disposal to Suez of the following asset and/or the entry into the following agreements:

- long-term contracts for gas supply to be delivered in Italy and abroad for a period of up to 20 years;
- Italgas' gas distribution network in Rome and certain neighbouring municipalities which has a total 5,300 km pipeline network, 1.5 bcm of gas distributed per year and over 1.2 million delivery points, at a price of 1.1 billion euro;
- the right to draw up to 1,100 MW of electricity from Eni's power plants by means of a Virtual Power Plant ("VPP") agreement for a period of 20 years, at a price of 1.2 billion euro;
- participations in E&P fields, at a price of 273 million euro, and
- a supply contract for 0.9 bcm per year of LNG in equivalent gas in the Gulf of Mexico for a period of 20 years.

Eni press release