Business | Oil & Gas
Gazprom accord with ENI set to see Russians producing and exploring in Libya
Gaz-prom, Russia's natural-gas exporter, plans to produce oil and gas in Libya under an accord with Italy's ENI.
- Bloomberg
- Published: 00:02 October 1, 2008
Moscow: Gaz-prom, Russia's natural-gas exporter, plans to produce oil and gas in Libya under an accord with Italy's ENI.
Gazprom will sign an agreement with ENI by the end of October that will give the Russian company "entry" into production and exploration in the North African country, Moscow-based Gazprom said in an e-mailed statement on Monday.
Vladimir Putin, on an April visit to Italy as Russian president, urged ENI to swap assets with state-run Gazprom to help both companies expand abroad.
Gazprom Chief Executive Officer Alexei Miller met with Libyan leader Muammar Gaddafi in July, when he proposed buying all oil and gas supplies available for export from the country.
ENI chief executive Paolo Scaroni met with Miller in Moscow on Monday to discuss Libya, the South Stream pipeline project and the development of Arcticgas, a unit of now Yukos Oil Company that ENI acquired in 2007.
More from Oil & Gas
More from Business
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
