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Tuesday, July 29, 2008

Italy throws its support behind Gazpromā€™s search for downstream markets in Europe

 Italy throws its support behind Gazprom’s search for downstream markets in EuropeJuly 29, 2008 - Russia Today - Italy has shattered hopes of a united European front against Gazprom after throwing "unquestionable" support behind its bid to buy EU energy companies. The EU's Reciprocity Clause bans Gazprom buying its energy grids until European firms can do the same in Russia. However in an interview with Business Today, Italy's Industry Minister claimed Russia had promised him to open its gas market to foreign investors. Italy is unquestionably one of the biggest supporters of boosting Gazprom's downstream presence in Europe. Our biggest energy company Eni's had terrific results with Gazprom on the South Stream project. Today Energy Minister Shmatko assured me that he'll further liberalize the Russian energy market.

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