Volume of Russian Gas Exported to Italy Could Increase Substantially Over Next Decade

General Director of Gazexport Oleg Siyenko and head of the international relations department of Gazprom Stanislav Tsigankov signed a memorandum in Rome on Tuesday on mutual understanding with representatives of the Italian company Enel.FTL. As announced by the press-service of the Russian gas company, both sides agreed to enter negotiations on agreement of conditions for buying and selling of Russian natural gas on a long-term basis. In particular, the possibility of a 20 year contract between Gazexport and Enel.FTL was discussed, for the direct supply from Russia of 3 billion cubic metres of gas per year.

The Gazprom press-service have said that if a settlement is reached between Gazprom and Enel.FTL, the total volume of exported natural gas from Russia to Italy will, by the end of the next decade, reach 30 billion cubic metres per year.

Enel.FTL is an offshoot of the joint-stock company Enel, a large Italian company who produce and distribute electric power. Enel.FTL supplies various types of fuel to Enel.

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&to=http://www.gazprom.ru/eng/default.htm' target=_blank>GAZPROM

&to=http://www.enel.it/enelftl/' target=_blank>Enel.FTL