The Italian ENI assigns to Gazprom its 20% interest in … – Boursorama

The Italian ENI assigns to Gazprom its 20% interest in … – Boursorama

View of Gazprom power plant on the shores of the Black Sea in Sochi, November 2013 (AFP / File / Yuri Kadobnov)

Italian energy group ENI confirmed Monday night that sold its entire 20% stake in the South Stream consortium to the Russian Gazprom.

The Russian gas giant Gazprom said Monday the purchase of shares of EDF French, Italian Eni and German Wintershall (BASF Group), bringing under control the whole of the South Stream Transport Company BV, after the abandonment of Moscow gas pipeline to Europe.

“Today, Gazprom signed an agreement with Eni, Wintershall and EDF regarding the acquisition from them 50 % of the company South Stream Transport BV, “said in a statement the Russian company, which already owns the remaining 50%.

This announcement was confirmed by similar releases of EDF, which had 15% stake, ENI (20%) and Wintershall (15% well).

The groups involved did not specify the amounts of such transactions.

Private Initiative Russian groups Gazprom and Italy’s Eni at a cost of 16 billion euros, the South Stream project was abandoned in early December by Moscow on funds strong tensions between Russians and Westerners in the framework of the Ukrainian crisis.

The pipeline, expected to ensure energy security of the European Union through Russian gas supplies, was about 3,600 km linking Russia to Bulgaria before heading to Western Europe via Serbia, Hungary and Slovenia.

Launched in December 2012 before the Russian-Ukrainian conflict, it was initially to diversify the routes of Russian gas, bypassing Ukraine currently transits where nearly half of the deliveries Russia to the EU.

The pipeline would have a capacity of 63 billion m3 per year, equivalent European purchases of Russian gas through Ukraine.

Instead, Russia plans to build a new pipeline to Turkey, it already supplies via the Black Sea through the Blue Stream gas pipeline and make the country a major transit country for Russian gas.

Copyright © 2014 AFP. All rights of reproduction and distribution reserved.

All information displayed on this section (dispatches, photographs, logos) are protected by intellectual property rights owned by AFP. Therefore, none of this information may be reproduced, modified, transmitted, redistributed, translated, sold, exploited commercially or reused in any way whatsoever without the prior written consent of AFP. AFP shall not be held responsible for delays, errors, omissions, which may not be excluded or the consequences of actions or transactions made on the basis of this information.