REFILE-Court cuts cost of gas Eni sold to Edison by 1 bln euros

November 27, 2015 7:21 PM

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MILAN Nov 27 An international arbitration court has cut by around 1 billion euros ($1.06 billion) the cost of Libyan gas that Italian oil group Eni has sold to rival Edison under a long-term supply contract.

Edison, a unit of French energy giant EDF, said it expected the ruling to have a positive impact of 850 million euros this year on its earnings before interest, tax, depreciation and amortisation (EBITDA).

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