Eni and Gazprom sign the agreement for the South Stream Project

Source: www.gulfoilandgas.com 11/22/2007, Location: Asia

Eni and Gazprom signed today in Moscow a further agreement related the South Stream project, in which the parties agreed to use a joint special purpose vehicle (SPV) for the commissioning of the marketing and technical feasibility studies of the project.

The new structure will be governed by a shareholders agreement. The two partners, after months of work which also involved Saipem, acknowledged the achievement of the preliminary studies and have agreed to commission the detailed feasibility work as soon as possible.

The today’s agreement is a further significant step for the implementation of this strategic project for the Russian and European gas market.

Eni and Gazprom, together with the Italian and Russian governments, will develop top level discussions with the governments of the transit countries of the South Stream pipeline and possible other partners in the coming months.

In its offshore section, the South Stream will cross the Black Sea from the Russian coast of Beregovaya - the same starting point of the Blue Stream pipeline - to the Bulgarian coast, with a 900-km pipeline reaching a maximum water depth of more than 2,000 metres. For the onshore section two different routes from Bulgaria are being studied: a route towards northwest and one towards southwest.

Eni and Gazprom will carry out the project using the most advanced technologies in full respect of the strictest environmental criteria. This project represents an important and substantial contribution towards strengthening the security of European energy supply.


Italy >>  8/11/2022 - Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to note an announcement made by Po Valley...
Italy >>  8/2/2022 - Saipem has been awarded an offshore E&C contract by Enimed, a subsidiary of Eni S.p.A., for the Transportation and Installation of an offshore gas pip...

Nigeria >>  8/1/2022 - Seplat Energy Plc, a leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, is pleased to announce that it has...
Norway >>  7/29/2022 - The Petroleum Safety Authority Norway (PSA) has given Equinor consent for temporary use of Snorre gas import pipeline. Sorre gas import pipeline is pa...

Guyana >>  7/27/2022 - Subsea 7 and Van Oord today announced the award of a substantial1 contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEP...
Iraq >>  7/26/2022 - The Ministry Deputy for Distribution & Refining Affairs, Hamid Yunis, affirmed that the ministry keens to develop and upgrade the national oil p...

Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.