EDISON AND GAZPROM JOIN FORCES TO EXPORT NATURAL GAS TO ITALY

Europe Energy, October, 1995

EDISON, the Italian electricity group, and GAZPROM, the Russian gas producer, have set up a joint venture, for the import and sales of natural gas in Italy. EDISON will have a 51% stake in the venture, with its Russian partner having the remainder in the joint venture, to be called VOLTA. The venture involves the construction of around 1,000 kilometres of gas pipelines and the signature of contracts for the supply of gas by GAZPROM.

For its part, VOLTA will carry out a technical feasibility study on a transport and distribution network for Russian gas in Italy. The first supplies of Russian gas are expected to be delivered in 1998 once the necessary infrastructure is in place.