Italian energy company ENI and its Russian partner Gazprom on Monday expressed "full commitment" to the South Stream pipeline project after a Gazprom executive criticised ENI last week. The two companies underscored "their intention to complete the feasibility study of the offshore section (and) agreed to accelerate the activities of their joint venture South Stream AG," ENI said in a statement.
On Friday, Stanislav Tsygankov, the head of Gazprom's foreign relations department, was quoted by the Interfax news agency as saying there had "been no progress on South Stream due to the absence of adequate work by our Italian partners." ENI also said it had reached an agreement with Gazprom on its entry into the development of the Elephant oilfield in Libya. "The detailed agreement will be finalised in the coming days and will be submitted to Libyan authorities for approval," the statement said.
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