Eni CEO Open To New South Stream Partner

Eni CEO Open To New South Stream Partner
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Τετ, 12 Ιανουαρίου 2011 - 18:56
Eni SpA (E) is open to a further partner in the South Stream natural gas pipeline project, although the negotiations are conducted by OAO Gazprom (GAZP.RS), said Chief Executive Paolo Scaroni of the Italian energy company Wednesday.
Eni SpA (E) is open to a further partner in the South Stream natural gas pipeline project, although the negotiations are conducted by OAO Gazprom (GAZP.RS), said Chief Executive Paolo Scaroni of the Italian energy company Wednesday.

"We are open to a further partner, and why not a German one," said Scaroni on the sidelines of a German-Italian bilateral summit in Berlin, when asked over the possibility that BASF SE's (BAS.XE) Wintershall could join South Stream.

The South Stream project, which is still at a feasibility stage, aims to bring annually 63 billion cubic meters of Russian and Caspian gas under the
Black Sea , bypassing the Ukraine , to Europe .

Last year, Eni and Gazprom agreed to let Electricite de France SA (EDF.FR) enter their South Stream joint venture.

Separately, Wednesday Eni's Scaroni also said he will meet up with E.ON AG (EOAN.XE) officials to discuss relationships with gas suppliers, especially Gazprom.

Gas contracts need to take into account the changed market conditions with spot prices being lower than those tied to oil ones, said Eni's CEO.

Scaroni said the best way to guarantee the European Union's energy security is to boost gas interconnectors among the 27-country bloc.

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