Italian oil and gas giant Eni
cannot rule out leaving the South Stream natural gas project
carrying energy from Russia to Europe, CEO Claudio Descalzi said
Tuesday.
"ENI will continue to engage in South Stream if required
investment does not exceed 600 million euros, otherwise it will
consider leaving the project," Descalzi said.
"The four participants in the project are having difficulty
finding funding," he continued.
"But ENI would never be able to put up 2.4 billion euros,
as this would be too risky for its financial balance," Descalzi
said.
Russian energy giant Gazprom is the majority shareholder in
the South Stream natural gas pipeline project, which it is
building along with Italian state-controlled energy conglomerate
Eni.
Other partners are France's EDF and German oil and gas
Company Wintershall.
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