Italy, Russia Push South Stream During PM Monti's Visit

Energy | July 23, 2012, Monday // 14:31|  views

Map of the projected South Stream track. By Wikipedia.

Italian PM Mario Monti met Russian counterpart Dmitry Medvedev Monday in a visit set to reaffirm and push forward the two countries' strategic cooperation.

Later, Monti will meet Russia's President Vladimir Putin in Sochi to discuss developments in the South Stream natural gas pipeline project.

The two leaders are also expected to discuss the international situation, especially the aggravated violence in Syria.

The Italian-Russian energy cooperation was given a further push Monday, when Italian company Eni and Russian Rosneft signed an agreement for fuel exploration in the Black Sea and Barents Sea.

The Italian and Russian parties have said that they expect the final investment decision for South Stream to be ready by the end of 2012.

The South Stream pipeline is set to cost some EUR 15 B and transport some 63 bcm of natural gas from Russia through Bulgaria and on to Italy and Austria.

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Tags: Rosneft, ENI, Vladimir Putin, Dmitry Medvedev, Vladimir Putin, Austria, Bulgaria, Italian, Italy, Russian, Russia, natural gas, South stream, Syria


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