July 1, 2013
Po Valley Energy Limited (ASX:PVE), the northern Italy focused gas and
oil exploration and production company, is pleased to announce to the
Market that it has finalised a new off-take agreement with Shell Italia
S.p.A — part of the global group Royal Dutch Shell.
The contract is benchmarked to gas prices in Italy and commences on 1 July 2013. An option to extend the contract is available.
Giovanni Catalano, Managing Director
of Po Valley Energy
commented: “We are very pleased to start a commercial relationship with
Shell and welcome this opportunity in light of a number of future
development projects both on and offshore Italy.
The new contract represents an important stage in the Po Valley Energy’s
development as a gas producer as this is an opportune time to execute a
gas sales contract with a major global customer”.
Po Valley Energy
+39 06 4201 62 75
About Po Valley Energy
The Po Valley region is the main gas production zone in Italy. Po Valley
Energy (ASX: PVE) is an oil and gas producer and exploration company
listed on the Australian Stock Exchange. It has an expanding portfolio
of hydrocarbon assets in northern Italy. Po Valley holds 12 licence
areas, encompassing 2,000 square kilometres and owns and operates two
gas treatment plants, Sillaro and Castello.
For more information please visit www.povalley.com
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