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Eni and Gazprom to Put Elephant Project On Hold

Source: www.gulfoilandgas.com 4/20/2011, Location: Africa

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Paolo Scaroni, Chief Executive Officer of Eni.

The parties discussed the issues of bilateral cooperation in the energy sector within the Strategic Partnership Agreement. The meeting addressed the preparation of a gas purchase contract between Gazprom and SeverEnergia.

The meeting participants noted that due to the ongoing warfare in Libya the Russian company involvement in the Elephant project and the field operations will be kept “on hold” until the situation stabilizes.

In addition, during the meeting Alexey Miller and Paolo Scaroni discussed the progress with the entry of French EDF and German Wintershall in the South Stream AG shareholding structure.

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