Gazprom and Eni mark 40th anniversary of Russian gas supplies to Italy
Today in Venice the Gazprom delegation led by Alexander Medvedev, Deputy Chairman of the Management Committee took part in the celebrations devoted to the 40th anniversary of natural gas supplies from Russia to Italy as part of the Company’s cooperation with Eni.
The welcoming statement sent by Alexey Miller, Chairman of the Gazprom Management Committee on the occasion of the anniversary says that:
“Today we are celebrating the 40th anniversary of signing the Agreement on long-term natural gas supplies to Italy, which became a milestone in the contemporary history of Europe. Over this period, Gazprom and Eni, as strategic partners, established unprecedented partnership relations based on mutual trust and efficient commercial decisions.
Thus, the companies jointly constructed a unique gas pipeline, Blue Stream, unparalleled in the global history. Currently, Gazprom and Eni are playing an active role in executing a new large-scale project, South Stream, to become an integral part of the European energy security.
I am sure that further Russian-Italian cooperation in the gas sector will yield new impressive outcomes to promote friendly ties between our countries, as well as economic prosperity of Russia and Italy.”
Paolo Scaroni, Chief Executive Officer of Eni; Adolfo Urso, Italy's Deputy Minister for Economic Development; Elvira Nabiullina, Russia's Economic Development Minister and Alexander Medvedev
“Relations between Eni and Gazprom have a 40-year-long history of successful cooperation. From the very first energy agreements between our countries we have never suspended relations with Russia. Throughout this period Gazprom has never failed to perform its commercial obligations.
An important phase of development of our unique relations was the Strategic Cooperation Agreement signed in 2006, which laid the basis for an international alliance for joint projects implementation across the whole value chain, from upstream to downstream. These projects will ensure consolidation of our companies’ positions on the global energy market, thus making a substantial contribution to reliability of energy carriers supply to Italy and Europe.
Russia and Europe benefit from our partnership. We are going to develop our relations with Russia in the spirit of a mutually-beneficial partnership,” noted Paolo Scaroni.
Italy is the third largest importer of Russian gas in Europe. The Agreement on long-term natural gas supplies to Italy was signed in December 1969. The gas pipeline connecting the two countries was commissioned in 1974.
Since 1974 Gazprom has supplied Italy with some 450 billion cubic meters of Russian natural gas in total, including 22.4 billion cubic meters in 2008.
Gazprom and Eni participate in the Blue Stream project (the gas trunkline aimed at direct Russian gas deliveries to Turkey across the Black Sea). Blue Stream was commissioned in 2003. In 2008 Turkey received 10.1 billion cubic meters of gas via the gas pipeline.
In November 2006, Gazprom and Eni entered into the Strategic Partnership Agreement stipulating an opportunity for Gazprom to provide direct Russian gas deliveries to the Italian market starting from 2007. Gas volumes will be gradually increased to 3 billion cubic meters by 2010. Pursuant to the Agreement the existing contracts for Russian gas supply to Italy are extended till 2035.
On June 23, 2007 Gazprom and Eni signed a Memorandum of Understanding for the South Stream project execution. The Memorandum sets the cooperation areas for both companies in the South Stream engineering, financing, construction and management sectors.
On May 15, 2009 Gazprom and Eni signed the second Addendum to the MoU on the South Stream project execution providing for an increase in the throughput of the offshore section from 31 to 63 billion cubic meters per annum, as well as gas marketing regulation issues within the project.