Eni, Gazprom Conduct South Stream, Upstream Pow-Wows

Eni and Gazprom teams met in Moscow on November 10, 2009, in the presence of Eni CEO Paolo Scaroni and Gazprom CEO Alexey Miller. Among the issues discussed was the competitiveness of the Russian gas in Europe and the development of the South Stream project, with particular reference to the potential entry of the French company Edf in the joint venture. Moreover, the development and the organization of the upstream activities of Severenergia was also discussed, confirming the target of the first production in 2011.

Talks between the two teams will continue in the coming weeks. The next meeting between the two CEO's is scheduled for December 11th in Venice, at the celebration of the 40th anniversary of the initial collaboration between Eni and Gazprom.