On working meeting between Alexey Miller and Paolo Scaroni
Release
RELEASE
The Gazprom Headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Paolo Scaroni, Chief Executive Officer of ENI concern.
The parties discussed the issues of cooperation between the companies when implementing the provisions of the Strategic Partnership Agreement.
The meeting participants noted that Gazprom and ENI were conducting a constructive dialogue in various directions of the bilateral cooperation and possessed high potential to continue successful development of the joint projects. In this context, the parties considered the progress in implementing the pre-investment stage of the South Stream project intended for securing direct deliveries of Russian natural gas to Europe.
Background
According to the provisional estimates, in 2008 Gazprom supplied Italy with more than 22 billion cubic meters of gas.
In November 2006 Gazprom and ENI entered into the Strategic Partnership Agreement providing Gazprom with the opportunity to directly supply Russian gas to the Italian market starting from 2007. Gas supply volumes will be gradually increased to 3 billion cubic meters per annum by 2010. Under the Agreement the existing contracts for Russian gas supplies to Italy have been extended till 2035.
On June 23, 2007 Gazprom and ENI concern inked the Memorandum of Understanding for the South Stream project implementation. The MoU sets the areas of cooperation between the two companies in designing, financing, constructing and managing the South Stream.
On January 18, 2008 South Stream AG, a special purpose company was registered in Switzerland. South Stream AG was incorporated by Gazprom and ENI on a parity basis.
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