Gazprom and Eni reach agreement on asset swap

Gazprom has signed an agreement with Italian oil and gas company Eni to complete an asset swap deal. The deal involves Gazprom gaining access to downstream facilities in Italy, with Eni gaining exploration and production facilities in Russia.

The agreement, signed in Moscow on 14 November after a year of talks, will allow Gazprom to sell gas directly to the Italian market from 2007, with volumes expected to reach 3 billion cubic metres by 2010. The deal extends Gazprom's Italian contracts to 2035

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