OAO Gazprom (GAZP.RS) and Eni SpA (E) are preparing to join forces to pipe natural gas from Libya to southern Europe, the International Herald Tribune reports Thursday.
Talks between the two companies, held last week, ended with agreement in principle to work together in Libya, the newspaper says.
Gazprom bought exploration and development licenses in Libya last year and plans to invest $300 million in projects in the next 12 months. Eni already holds 50% in the Greenstream pipeline in Libya and has a stake in a liquified natural gas plant in the country.