Eni sells its stake in South Stream to Gazprom

12/30/2014

Eni sells its stake in South Stream to Gazprom

MILAN, Italy -- Eni has entered into an agreement for the sale of its 20% stake in South Stream Transport to Gazprom.

Following the transaction, Eni will recover the capital invested to date in the project, calculated coherently with existing agreements.

Before the agreement, South Stream Transport was owned by Gazprom with a share of 50%, by Eni with a share of 20%, and Wintershall and EDF with a share of 15% each. The company was established to build the offshore section of the South Stream gas pipeline.

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