Enineftegas is a joint venture between Eni (60%) and Italian utility Enel (40%). However, Gazprom can exercise an option to buy a 50.1% stake in Eni’s subsidiary in two years.
Reuters cited Paolo Scaroni, CEO of Eni, as saying that if Gazprom chooses to exercise the option, Eni’s stake will fall to 30% and Enel will hold the remaining 19.9%.
