Italy's Eni SpA (E) will take 22 billion cubic meters of gas from Russia's OAO Gazprom (GAZP.RS) this year and won't fulfill its "take-or-pay" commitments, Interfax news agency quoted the company's chief executive, Paolo Scaroni, as saying Friday.
Italy
's Eni
SpA (E) will take 22 billion cubic meters of gas from
Russia
's OAO
Gazprom (GAZP.RS) this year and won't fulfill its "take-or-pay"
commitments, Interfax news agency quoted the company's chief executive, Paolo
Scaroni, as saying Friday.
He declined to tell reporters how much Eni was supposed to take under the
commitments, which oblige companies to take a certain amount of gas a year or
pay fines, Interfax reported.
Mr. Scaroni was speaking at the launch of construction of the South Stream pipeline
that will take Russian gas to
Southern Europe
via
the
Black Sea
. He said Eni could receive all its gas via the new
route, which is projected to have a capacity of 63 billion cubic meters a year
on completion in 2018.
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