Gazprom’s Headquarters has hosted today a working meeting between Alexey Miller, Chairman of Gazprom’s Management Committee and Paolo Scaroni, Chief Executive Officer of ENI.

The parties addressed the prospects for cooperation in the oil & gas sector.

The parties unanimously agreed on the need of further promoting long-term partnership ties between Gazprom and ENI, taking into account the experience gained during previous joint businesses.

Reference:

The natural gas market of Italy is the third-largest in Europe after the Great Britain and Germany. The share of gas in the Italian primary energy mix exceeds 30 per cent. Last year Italy imported approximately 86% of its natural gas requirements, with the bulk coming from Algeria and Russia.

Italy is the second-largest importer of Russian gas in Europe. The Gazprom Group supplies gas to Italy under five long-term contracts. In 2005 deliveries were at 21.85 bcm.

In February 1998 Gazprom and ENI sealed an Agreement on strategic cooperation. Under the Agreement, the parties are involved in the Blue Stream project (Blue Stream is an offshore gas pipeline used for direct deliveries of Russian gas to Turkey under the Black Sea). To finance, construct and operate the pipeline, Gazprom and ENI created the Russian-Italian Blue Stream Pipeline Company joint venture. Blue Stream was brought online in February 2003. Over 2005 the pipeline carried 5 bcm of Russian gas to Turkey.