Russian Gas Supply to Italy Increasing

At a meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Claudio Descalzi, Chief Executive Officer of Eni, issues regarding Russian gas exports to Italy were discussed. It was noted during the meeting held at Gazprom headquarters that Italy was Europe's third-largest Russian gas consumer in 2015 and the consumption was on the rise.

Preliminary estimates indicate that in 2015 the gas exports to Europe totaled about 24.4 billion cubic meters showing a 12.6 per cent increase versus 2014. Between January 1 and 20, 2016 the gas exports grew by 24.5 per cent versus the same period of 2015.

The parties also discussed the European gas market trends in light of the current oil prices. The companies confirmed their intention to continue closely cooperating in the Italian gas market and expressed their readiness to increase Russian gas sales under the existing long-term contracts.