Wires

ENI CEO says mulling not renewing take-or-pay contracts

ROME, Oct 10 (Reuters) - Italian oil and gas group ENI

is considering not renewing so-called "take-or-pay"contracts and is discussing the issue with Italian authorities,Chief Executive Paolo Scaroni said on Wednesday.

"We can try to not renew take-or-pay contracts and wind upthose in force because they have become too expensive," Scaronitold the Italian Senate's Industry Commission.

"We would have a marked improvement in our financialperformance," he said, adding the company could also considerrenegotiating long-term contracts.

(Reporting By Stefano Bernabei)

((catherine.hornby@thomsonreuters.com)(+ 39 0685 224394)(Reuters Messaging:catherine.hornby.thomsonreuters.com@reuters.net))

Keywords: ENI/

Related Tags