INTERVIEW-UPDATE 1-Ascopiave in jv talks with Gazprom
* Ascopiave in gas jv talks with Gazprom
* JV question to be resolved September-October
* Could pave way for sector consolidation
* Ascopiave mulling equity stake in LNG terminal
MILAN, Aug 31 (Reuters) - Italian north eastern utility Ascopiave (ASCI.MI) is in talks to set up a gas joint venture with Russia's Gazprom (GAZP.MM) that could pave the way for further consolidation of Italian utilities in the area, Ascopiave's chairman told Reuters on Monday.
"There's no finalised deal yet, nor any memorandum of understanding, but the idea is to create a joint venture with Gazprom which will help us push ahead with our aggregation plans in Friuli, Veneto (regions) and even abroad," Ascopiave Chairman Gildo Salton said in a telephone interview.
He said such a joint venture would be of great interest to other local energy players because Gazprom was in a position to guarantee gas supplies at very competitive prices.
"There could be some other very important Italian players interested (in joining the joint venture) -- industrial and financial," he said.
The joint venture with Gazprom would regard gas supplies and gas sales to wholesalers. Ascopiave, controlled by 93 local municipalities, is heavily focused on the gas business.
While no final decision has yet been taken, the joint venture could see Gazprom take a stake of between 40-50 percent though management would be in Ascopiave's hands, Salton said.
"The question should be resolved by the end of September or October at the latest," he said.
Ascopiave, which has a gas distribution network across northern and central Italy of more than 7,000 km, accounts for almost 2 percent of Italy's gas consumption on a market dominated by Eni (ENI.MI).
GAZPROM IN ITALY
Last September, Gazprom signed a joint venture deal for gas sales on the Italian market with utilities A2A (A2.MI) and Iride (IRD.MI) as it seeks ways of marketing its gas in Italy.
Gazprom agreed to supply 3 billion cubic metres of gas a year to Italy as part of a 2006 accord with Eni.
Earlier on Monday, Ascopiave announced the signing of a 10-year gas supply contract between Gazprom and Sinergie Italiane, a joint venture that includes Ascopiave.
That contract sees the supply of 1 billion cubic metres of gas per year for 3 years and then 500 million cubic metres per year for 7 years.
Enia (EN.MI), the north Italy utility set to merge with Iride, is part of the Sinergie Italiane consortium as well as in the Plurigas consortium with Iride and A2A (A2.MI). Both consortia have gas supply agreements with Gazprom.
"There were concerns of a conflict of interest with Enia being in both consortia but we have drawn up bylaws to allow it to remain in Sinergie Italiane," Salton said.
Asked about Ascopiave's possible interest in liquefied natural gas (LNG) terminals in Italy, Salton said the group was assessing a possible equity presence in a terminal in southern Italy but declined to say which.
"We're still examining the situation since to date there's no visibility on regasificiation costs in Italy," he said.
Enel (ENEI.MI) has received final clearance to build an LNG terminal at Porto Empedocle in Sicily which will have a capacity of 8 billion cubic metres per year.
((stephen.jewkes@thomsonreuters.com; +39 02 6612 9695; Reuters Messaging: stephen.jewkes@reuters.com@reuters.net) Keywords: ASCOPIAVE GAZPROM
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