South Stream Pipe to See First Gas by 2016

Eni SpA, Italy's biggest energy company by market value, Friday said it confirms expectations of first natural gas from the South Stream pipeline linking Russia to the European Union via the Black Sea to take place by the end of 2015. 

In a statement, Eni said it confirms the aim of starting the pipeline construction by the second quarter of next year and the first gas by the end of 2015. 

Eni said its Chief Executive Paolo Scaroni Friday met OAO Gazprom CEO Alexey Miller in St. Petersburg to discuss the progress of the South Stream project. 

South Stream investors are Gazprom, Eni, Electricite de France S.A. and BASF SE unit Wintershall. They launched construction of the offshore section of the pipeline in December.

Copyright (c) 2012 Dow Jones & Company, Inc.


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