The two international players have been working to change the terms of the supply agreement since late last month, when aheads of agreement was signed to mark the end of an arbitration proceeding initiated by Eni.
The Paolo Scaroni-led oil major had demanded compensation from Statoil in the reported $10 billion arbitration case, claiming gas markets have changed with the US shale boom and that Eni has been paying up to 40% more for Statoil's gas than what European markets dictate.
Scaroni
