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Gazprom, Eni agree to develop southern corridor of gas deliveries

March 21, 2017, 14:58 UTC+3

Gazprom and Italy’s Eni signed a memorandum of understanding in Moscow

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© Stanislav Krasilnikov/TASS

MOSCOW, March 21. /TASS/. Gazprom and Italy’s Eni signed a memorandum of understanding in Moscow, the Russian gas holding said on Tuesday.

"The paper reflects interest of the parties in analyzing prospects of cooperation in the sphere of developing the southern corridor of gas supplies from Russia to European nations, particularly to Italy, and upgrading contracts on Russian gas supply to the republic," Gazprom said.

"Upgrade of contracts will only pertain to a change in delivery destinations in context of the southern supply corridor," Gazprom’s international trading arm Gazprom Export said.

South Stream Transport B.V. affiliated with Gazprom awarded the contract for construction of the second line of the Turkish Stream gas pipeline’s offshore segment to Allseas Group, Gazprom said earlier.

The contract was signed within the framework of exercising an option stipulated by the contract for laying the first line of the gas pipeline made in 2016.

Gazprom signed the contract for construction of the first line of the Turkish Stream offshore segment on December 8, 2016.

The Turkish Stream project envisages the construction of a natural gas pipeline via the Black Sea to the European part of Turkey to be further extended to the border with Greece. The seabed section is about 910 kilometers and the mainland section through Turkey is 180 kilometers. Previously the project was estimated at 11.4 bln euro. It is supposed that gas supplies via the first line will be totally aimed for the needs of the growing Turkish market.

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