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Gazprom and Eni discuss potential southern route for Russian gas supplies to Europe

June 16, 2016, 19:30

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Claudio Descalzi, Chief Executive Officer of Eni, took place today at the St. Petersburg International Economic Forum 2016.

The parties noted that the demand for Russian gas remained high in Italy. In 2015, Russian gas exports to the Italian Republic increased by 12.6 per cent. From January 1 through June 15 of this year the exports grew by another 5.3 per cent.

In that context, Alexey Miller and Claudio Descalzi addressed further development of the European gas transmission system, giving attention to the prospects of setting up a southern route for Russian gas supplies to Europe.

Background

Eni S.p.A. is a global integrated energy company operating in the oil, gas, petrochemical and engineering industries, producing and selling electricity, and providing oil field services. Eni is Gazprom's major partner within the Blue Stream project.

On February 24, 2016, Gazprom, Edison, and DEPA signed the Memorandum of Understanding on natural gas deliveries from Russia across the Black Sea and third countries to Greece and from Greece to Italy in order to set up a southern route for Russian gas supplies to Europe. While implementing the project, the parties are committed to take advantage of the work done by Edison and DEPA within the ITGI Poseidon project.

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