Italy's ENI has not ruled out leaving the project " South stream "

Italian energy Firm ENI, partner of Gazprom on the South stream project ", can leave it in the case of increasing the required investment amount, said Tuesday ENI chief Executive Claudio Descalzi.
" ENI will continue to engage in " South stream ", if the amount of investment required will not exceed 600 million euros, otherwise we consider the possibility of exit from the project, " said the businessman, reports TASS. According to him, the participants of the project (in addition to ENI, France's EDF, German oil and gas Company Wintershall AG) have difficulty with finding payment." ENI will never be able to put 2, 4 billion euros, As it is too risky for its financial balance, " showed Descalzi. He noted that ENI forced to make changes in the strategy, As it is " Firm, things which go well, but we no longer possess the capability to conduct business requiring large amounts of liquidity ". In the local media a long time sounds assumption about the failure of ENI from participation in South stream, most taking into consideration the latest complications in Brussels, where there are many obstacles for the implementation of the project. The dialogue between Russia and the EU on the settlement of the legal details stopped for some time because of the situation in Ukraine. In addition, the European Commission considered the " South stream " is too expensive and " additional gas " in the current difficult economic conditions. At the same time, the Hungarian Parliament passed a law which allows you to accelerate the construction of the gas pipeline " South stream " in circumvention of the rules of the EU. Remember, the European Parliament, September 18, tried to convince the European Union to cancel the planned Treaty with Russia, such as the construction of the gas pipeline " South stream ". The essence of the complaint by the EC is the requirement for the operator of the " South stream " to reserve part of its capacity to pump gas independent organizations in the European Union, in Accordance with the provisions of the 3rd energy package, which was designed specifically for crushing and undermine the influence of major energy companies in the European market. As noted above, the President of the Russian Federation centuries Putin, European authorities have arranged the tape c gas pipeline " South stream " only for political reasons, from the economic point of view, the project is beneficial for Europe.


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sections: Politics