Eni of Italy signed a memorandum of understanding with the Russian Gazprom for cooperation on the development of the southern corridor for gas supplies from Russia to European countries.
The countries also include Italy and according to the agreement signed by the Gazprom’s head Alexey Miller and Eni’s CEO Claudio Descalzi, the parties intend to analyze the prospects of modernization of the Russia – Italy gas supply agreements.
In addition, the two companies will consider partnership options in the LNG sector.
The South Stream gas pipeline is Gazprom’s global infrastructure project aimed at constructing a gas pipeline with a capacity of 63 billion cubic meters across the Black Sea to Southern and Central Europe for the purpose of diversifying the natural gas export routes and eliminating transit risks.