Saipem SpA, Italy’s largest oil- service provider, rose the most in a week in Milan trading after signing a 2 billion-euro ($2.8 billion) contract to build the first link in the South Stream natural gas pipeline to Europe.
OAO Gazprom may increase natural gas deliveries to the European Union and add as much as $2 billion to operating profit as the Netherlands cuts output at its biggest deposit, according to Sberbank CIB.
Russia’s President Vladimir Putin called for a “gradual” end to OAO Gazprom’s monopoly on exports of liquefied natural gas as OAO Novatek and the state- owned OAO Rosneft seek the right to ship the fuel abroad.
OAO Rosneft, the world’s biggest publicly traded oil producer, is in talks with Exxon Mobil Corp. about building a liquefied natural gas plant to target Asia, challenging OAO Gazprom’s weakening export monopoly.
OAO Novatek and OAO Gazprom Neft, agreed to acquire Eni SpA’s holding in a natural gas producer in the Russian Arctic for $2.94 billion, increasing control in one of the nation’s largest new energy projects.