AGREEMENT ON SOUTH STREAM SIGNED IN SOCHI
/PanARMENIAN.Net/
15.05.2009 22:53 GMT+04:00
/PanARMENIAN.Net/ The president of Gazprom, Alexey Miller, and the
Head Administrator for ENI, Paolo Scaroni, in the presence of the
Russian and Italian leaders, Vladimir Putin and Silvio Berlusconi,
have signed a new agreement relative to the realization of South
Stream. ENI and ENEL, furthermore, have signed an agreement for the
transfer to Gazprom of 51% of SeverEnergia and the development of
important sites in Siberia.
The agreement on South Stream provides for the increase in the capacity
of transport from 31 to 47 billion cubic metres of gas per year in
the pipeline. ENI and GAZPROM, furthermore, have worked together to
follow through with the development of the South Stream project, given
its strategic relevance in causing, through a new route, a decisive
contribution to the security of the supply of gas across Europe. ENI
and ENEL have also signed an agreement for the transfer to GAZPROM
of 51% of SeverEnergia, a company that owns the entire capital of
Arcticgaz, Urengoil and Neftegaztechnologia, once themselves owners
of the license to explore and produce hydrocarbons with gas and oil
reserves estimated at 5 bln barrels equivalent to oil. At the end of
the negotiations, the indirect participation of ENI will be reduced
from 60% to 29.4% and that of ENEL from 40% to 19.6%. On the basis of
the agreement, SeverEnergia, who employs 500 people in its offices in
Moscow and Noy Urengoy, will become the first Italo-Russian company
to operate in the Yamal Nenets’ (Western Siberia) deposit sites.
Currently the region produces about 905 of Russian gas. The various
parties have agreed to produce the gas from Samburskoye before June
2011 and to reach at least 150000 BOE a day within 2 years from the
beginning of production. It was further agreed to define within 90
days the plan to obtain all the authorization, including the extension
of the licenses from Rosnedra, the Russian authority for the use
of mineral and oil resources. The remuneration paid by GAZPROM for
the purchase of 51% of SeverEnergia, the final definition of which
is predicted for the end of June 2009, amounts to about 1.5 billion
dollars and will be paid in two parts over 2009-10. The ENI’ expected
earnings are 900 million dollars, of which ENEL will be responsible
for 600 million, AGI reported.