Partnership with Gazprom and Rosneft

Collaboration between Eni and Gazprom has a long history. Starting in 1969, when the first contract was signed for the supply of 6 billion cubic metres per year of natural gas from the USSR to Italy, Eni and Gazprom laid the foundation for a long and mutually-beneficial working relationship that has continued to the present day. In 2013 Eni became the major importer of Russian gas, with the purchase of 21.55 bcm.

The 1998 agreement between Eni and Gazprom signalled a new phase of collaboration between the two partners. In 2000 the Blue Stream Pipeline Company was set up to operate the Blue Stream gas pipeline.

On 23 June 2007 the South Stream pipeline project was announced, when the former Eni Chief Executive and the Vice-Chairman of Russian signed a Memorandum of Understanding (MOU) in Rome for the construction of South Stream.

Eni has been operating in Russia since 2007 following the acquisition of assets, including three Russian companies operating in the exploration and development of natural gas reserves. The companies, managed by the sub-holding OOO SeverEnergia, own significant, predominantly gas, resources located in the Yamal Nenets region, the largest natural gas producing region in the world. On 15 January 2014 Eni sold its 60% equity stake in Artic Russia B.V. to Novatek. Artic Russia B.V. owns a 49% equity stake in the SeverEnergia joint venture.

In addition to the partnership with Gazprom, in 2012 cooperation began with the Russian state-owned company Rosneft. The companies have signed a strategic partnership memorandum on the basis of which joint ventures will be created for the development of fields in the Barents Sea and the Black Sea.

On 21 March 2017 Eni and Gazprom signed a Memorandum of Understanding. The document reflects the parties’ interest in analyzing the prospects for cooperation in developing the southern corridor for gas supplies from Russia to European countries, including Italy, as well as the modernization of the Russia – Italy gas supply agreements. The Memorandum also provides for the consideration of partnership options in the LNG sector.

Last updated on 08/10/18