Eni and Gazprom reach agreement on gas supply contracts

Offshore staff

MOSCOW – Gazprom and Eni have agreed to adjust the terms and conditions for Russian natural gas supplies to Italy.

Paolo Scaroni, CEO of Eni, and Alexey Miller, chairman of the Gazprom Management Committee met to discuss the progress of the detailed action plan stipulating the South Stream gas pipeline construction. The parties confirmed the intention to make the final investment decision of the project this November, and to start construction operations in December 2012.

Gazprom has a 50% stake in the South Stream offshore project, with Eni holding 20%, and Wintershall and EDF 15% each.

3/2/2012

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