Eni, Gazprom reach agreement on reduced gas supply prices


During a meeting between Gazprom CEO Alexey Miller and Eni CEO Paolo Scaroni, held on the sidelines of the International Economic Forum in St. Petersburg, Eni and Gazprom reached an agreement for the reduction of Russian gas supply prices for 2013.

The two companies have also committed to complete renegotiations on prices and volumes of gas supplies for 2014 and beyond by the end of 2013.

The parties also discussed the progress of the South Stream project, confirming the aim of  starting-up the pipeline’s construction by the second quarter of 2014 and first gas by 2015.

The economic and trade relations between Eni and Russia date back to the early fifties. Eni entered the upstream segment of the country in 2007 and today it currently produces 15,000 barrels of oil equivalent per day from the Samburskoye field in Western Siberia.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs