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ENEL FTL: 3 BLN CUBIC METERS OF GAS FROM RUSSIA
Published on Wednesday, 3 July 2002
Enel signs 20-year supply accord with Gazprom
Rome, July 3 2002 - Enel.FTL, the Enel group fuel trading company, and the Russian group Gazprom have signed a Memorandum of Understanding for the 20-year supply to Enel, beginning from 2005, of 3 billion cubic meters of gas, per year, from Russia. Negotiations will commence immediately, in parallel with those necessary for the transport of the gas to Italy. The future supply, which is in addition to existing supply from Russia to Italy, consolidates the commercial relationship between the two country's in the energy sector. The operation is a part of Enel's strategy of diversification of its supply and direct gas sourcing from producer countries. The aim is to directly import 18 billion cubic meters annually, within 5 years, to fuel the group's own thermo-electric power plants and for sale on the Italian market.