Gazprom and ENI discuss realization of South Stream

Chairman of the Board of Gazprom Plc. Aleksey Miller and General Manager of ENI Paolo Scaroni discussed bilateral cooperation in the framework of their strategic partnership agreement, press service of Gazprom reported.

Particularly, Aleksey Miller and Paolo Scaroni discussed the current condition of South Stream project and assessed its realization positively.

Italy is one of main European importers of Russian gas and Gazprom and ENI have become partners long ago.

In 2010 Gazprom delivered 13.1 billion cubic metres of gas to Italy.

In November 2006 Gazprom and ENI signed an agreement about strategic partnership, prolonging acting gas delivery contracts to 2035. Gazprom started direct gas deliveries to Italian market at the rate of 3 billion cubic metres per year and got an opportunity to buy shares in foreign assets of ENI.

Gazprom is building South Stream gas line via the water area of the Black Sea to South and Central Europe in order to diversify its gas export routes.

Intergovernmental agreements with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria were signed to realize land part of the project.

On September 16, 2011 Gazprom, ENI, Wintershall Holding GmbH and EDF signed an agreement of shareholders of the sea part of South Stream. Shares are as follows: : Gazprom Plc. — 50%, ENI — 20%, Wintershall Holding and EDF —15% each.

Source: http://www.angi.ru/news.shtml?oid=2783385
Translated by Alexandra Utyasheva