Russian gas monopoly Gazprom and Italy's energy giant Eni signed on Thursday a memo of understanding to include France's EDF into the South Stream gas pipeline project.
The two companies' CEOs signed the paper in the presence of Russian President Dmitry Medvedev and Italian Prime Minister Silvio Berlusconi following Russian-Italian talks in Rome on Thursday.
"Gazprom and Eni support the French company's joining the project, and we have agreed to finalize the deal as soon as possible," Gazprom spokesman Sergei Kupriyanov said, adding that a trilateral deal would be signed within the next three months.
Gazprom and Eni currently hold equal stakes in South Stream AG, the operator of the gas pipeline, scheduled to be completed by 2015. The project is part of Russia's efforts to cut dependence on transit nations. It is a rival project to the EU-backed Nabucco, which would bypass Russia.
The South Stream project will provide Russian gas to South and Central Europe and will have a maximum capacity of 63 billion cubic meters of gas per year.
Gazprom and EDF signed a memorandum of understanding on November 27. Gazprom CEO Alexei Miller said that EDF would receive 10% of shares in the marine segment of the South Stream and final accords on the issue would be reached jointly with Eni in 2010.
Russia and its European partners have excellent chances of implementing the South Stream project, Medvedev said after the Russian-Italian talks.
"If we implement it, I'm sure everyone will benefit from this and we have excellent chances to carry this through," Medvedev said.
In turn, Berlusconi praised energy cooperation between Russia and Italy and confirmed Rome's intention to further cooperate in this sphere.
EDF is one of Europe's leaders in the production, transportation, distribution and deliveries of electricity and natural gas. EdF runs 19 nuclear power plants with 58 operating reactors, as well as thermal, wind and hydro power plants and transmission and distribution lines.
ROME, December 3 (RIA Novosti)
