MILAN (AFX) - Edison SpA has made an important gas discovery in Algeria, said chief executive Umberto Quadrino in a interview today in the Corriere della Sera daily.
'It is certainly important, it is a field of 100-120 bln cubic meters of gas,' he said, without clarifying what the company's stake is in the field.
Quadrino also said that Edison plans to grow more than the market in the gas business and that in ten years it will nearly double its gas volumes.
'We will have to diversify our supplies and increase our import capacity by building new gas pipelines, alternatives to Eni's,' he said.
He added that a final decision over the new gas pipeline linking Algeria to Italy via Sardinia will be taken within a year, and that Snam Rete Gas SpA could be involved in the part linking Sardinia to Italy's mainland. danilo.masoni@afxnews.com dm/bam COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited