The study of the South Stream project that aims to transport Russian natural gas into Europe via the Black Sea is at an advanced level, but the final decision on investment still hasn't been taken, Eni SpA (E) Chief Executive Paolo Scaroni said Thursday.
The study of the South Stream project that aims to transport Russian
natural gas into
Europe
via the
Black
Sea
is at an advanced level, but the final decision on investment still
hasn't been taken, Eni SpA (E) Chief Executive Paolo Scaroni said Thursday.
Scaroni was speaking at Eni's annual shareholders' meeting in
Rome
.
Eni and OAO Gazprom (GAZP.RS) are spearheading the South Stream pipeline
project that could transport up to 63 billion cubic meters of Russian and
Caspian gas a year bypassing
Ukraine
.
Monday, Italian Prime Minister Silvio Berluconi said, at a joint press
conference with his Russian counterpart Vladimir Putin, that work at South
Stream will start in the first half of 2012.
Eni is controlled by the Italian state, while Gazprom is Russian state
controlled.
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