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Thursday, April 02, 2009

Eni's Scaroni, Gazprom's Miller Discuss South Stream Project

APRIL 2, 2009 - (Dow Jones by Luca Di Leo)- ROME. The heads of Russian gas giant OAO Gazprom (GAZP.RS) and Italy's largest energy company, Eni SpA (ENI.MI), discussed the progress of the South Stream natural gas pipeline at a meeting in Moscow Thursday, Eni said. In a statement, Eni said Chief Executive Paolo Scaroni and Gazprom head Alexei Miller looked at "the progress in implementing the pre-investment stage of the South Stream project, given its strategic relevance to providing a significant contribution to secure direct gas supplies to Europe." The EUR10 billion pipeline - a 50-50 joint venture between the two companies - is expected to pump as much as 30 billion cubic meters of Russian gas into the European market.

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