Gazprom and Eni Ink Agreement on Strategic Partnership

Alexey Miller, Chairman of the Gazprom Management Committee and Paolo Scaroni, Chief Executive Officer of ENI have inked an Agreement on strategic partnership. Under the accord reached, Gazprom receives the opportunity to launch from 2007 direct Russian gas deliveries to the Italian market. The supply amount will be gradually growing to some 3 bcm/y by 2010. The Agreement contemplates extending existing contracts for gas supply to Italy till 2035.

Pursuant to the Agreement, the parties agreed to work through investment projects in the gas exploration and production sector of Russia and third countries.

In addition, the Agreement fosters the cooperation between the companies when laying new and developing existing gas transmission routes, including within the Blue Stream project, as well as interaction in the LNG and new gas transportation technology areas.