Italy doubles purchases of Russian gas
Italy bought 1.3 billion cubic meters of Russian gas from March 1 to 19, which is a 99% increase in comparison with the same period last year, Gazprom said in a report.
“It has been noted that for several decades, Gazprom has been a reliable gas supplier to Italy, currently the third largest importer of Russian gas, from March 1 to March 19, 2018, exports to Italy, according to preliminary data, increased by 99% compared with the same period last year,” the report says.
The company issued the report following a working meeting of Gazprom CEO Alexei Miller and the Italian Ambassador to Russia Pasquale Terracciano. They discussed current issues and prospects for the development of bilateral cooperation.
The parties paid a special attention to diversification of gas export routes from Russia to Europe. They reviewed the progress of work on the creation of the southern route of supplies through the Black Sea. Alexey Miller told Pasquale Terracciano that more than 50% of the offshore section of the Turkish Stream gas pipeline has been completed. It was noted that the second line of the gas pipeline will make it possible to annually supply 15.75 billion cubic meters of gas to European consumers.
In 2017, Gazprom supplied 23.8 billion cubic meters of gas to Italy.
The Turkish Stream project envisages the construction of a gas pipeline across the Black Sea to Turkey’s European part and further on to the border with Greece. The seabed section is to be 910 kilometers long and the land section will run 180 km into Turkey.
The first thread is meant for gas supplies to the Turkish market. The second one will be used to supply gas to Southern and Southeastern Europe. Each thread will have a capacity of 15.75 bln cubic meters of gas a year. The overall cost of the project was estimated as 11.4 bln euro ($12.98 bln).