OREANDA-NEWS. January 21, 2007. Gazprom and ENI set up Special Purpose ENTITY to implement South Stream project

The Special Purpose Entity South Stream AG was registered today in Switzerland. The venture was established on a parity basis by Gazprom and an Italian oil and gas company ENI.

The Special Purpose Entity South Stream AG will carry out the marketing research and technical and economical feasibility study for the South Stream project to be completed till the end of 2008.

Gazprom and ENI may jointly decide to engage other foreign partners in the project.

A government-level meeting between Russia and Italy with Gazprom and ENI involvement has been planned for the 1st quarter of 2008 to outline the schedule for reaching agreements with transit countries along the gas pipeline's route.