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Italy's Eni to sell stake in Blue Stream pipeline co-owned with Gazprom

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MILAN (Reuters) - Italian energy group Eni said it planned to sell its stake in the Blue Stream pipeline carrying Russian gas to Turkey that it co-owns with Russia’s Gazprom.

The move follows decisions announced by rivals Shell and BP to exit their positions in resource-rich Russia following Moscow’s invasion of Ukraine.

In emailed comments, Eni said its joint ventures with Russia’s Rosneft had already been frozen following international sanctions imposed as of 2014.

“The current presence of Eni in Russia is marginal,” it said.

Eni holds strategic long-term contracts for Russian gas. In 2020 Eni’s gas purchases from Russia reached nearly 22.5 billion cubic metres.

Earlier on Tuesday, TotalEnergies TTEF.PA condemned Moscow's military actions but stopped short of following Shell and BP's lead in exiting the country.

Reporting by Stephen Jewkes; editing by Valentina Za

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