Russia and Italy will be expanding cooperation in the energy sector, Russian President Vladimir Putin told a press conference following the talks with Italian Prime Minister Paolo Gentiloni on Wednesday.
“We’ve discussed promising areas of cooperation, including energy,” he said, adding that Russia covers 43% of Italy’s demand for gas. According to President, the parties have agreed “to expand cooperation in the area further on.”
Putin said he expects Italian companies to participate in projects on hydrocarbon production and diversification of Russian fuel supplies to Europe. “I mean the construction of new main gas pipelines, particularly on the southern route,” he said.
Rosneft and Eni S.p.A. entered into a Cooperation extension agreement in the areas of upstream, refining, marketing and trading during the visit of an Italian delegation to Russia. The document was signed by Rosneft CEO Igor Sechin and Eni CEO Claudio Descalzi.
“The parties will consider further expanding their international cooperation, including the Zohr project offshore Egypt, as well as the potential for joint supplies of refined products to the country,” Rosneft said.
The document reinforces the previous agreements between the two companies, specifically in offshore to drill exploration wells as part of joint projects in the Black and Barents seas.