Gazprom, Eni sign MoU

Multinational

MOSCOW, March 21, 2017 – Russia’s Gazprom has signed a Memorandum of Understanding with Italy’s Eni to develop Europe’s southern gas corridor, the Italian major reported on Tuesday.

The two companies have also agreed to consider updating the gas supply agreements between Russia and Italy.

“The Memorandum also provides for the consideration of partnership options in the LNG sector,” Eni’s press release said.

The news comes days after Gazprom offered to modify the terms of its gas supply contracts with Europe in order to allay anti-trust concerns by the European Commission.

“We believe that Gazprom’s commitments will enable the free flow of gas in Central and Eastern Europe at competitive prices,” Margrethe Vestager, commissioner in charge of competition policy, said in a statement on March 13, noting that the Commission would consider the opinions of stakeholders before taking a decision to drop its anti-trust investigation into Gazprom.

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