Russian President Dmitry Medvedev said Thursday the South Stream natural gas pipeline project will help guarantee the energy security of Europe.
Medvedev was speaking at a press conference with Italian Prime Minister Silvio Berlusconi in Rome following a meeting between the two.
The South Stream project, a joint venture between Eni SpA (E), Italy's biggest energy company by market value, and Russia's OAO Gazprom (GAZP.RS), aims to bring gas from the Caspian area, as well as Russia, under the Black Sea, to Bulgaria, bypassing Ukraine.
Europe is the biggest buyer of Russian gas.