("Eni To Take 22 BCM of Russian Natural Gas in 2012 - Report,"
at 1413 GMT and 1437 GMT, misstated the volume of gas to be taken
by Eni in the headlines and lead paragraph, based on the report
from Interfax. The company will take less than 22 billion cubic
meters. The correct version, which also strikes out the reference
to Mr. Scaroni from the second paragraph, follows.)
MOSCOW--Italy's Eni SpA (E) will take less than its contracted
volume of 22 billion cubic meters of gas from Russia's OAO Gazprom
(GAZP.RS) this year and won't fulfill its "take-or-pay"
commitments, Interfax news agency quoted the company's chief
executive, Paolo Scaroni, as saying Friday.
"Take-or-pay" commitments oblige companies to take a certain
amount of gas a year or pay fines.
Mr. Scaroni was speaking at the launch of construction of the
South Stream pipeline that will take Russian gas to Southern Europe
via the Black Sea. He said Eni could receive all its gas via the
new route, which is projected to have a capacity of 63 billion
cubic meters a year on completion in 2018.
Write to Moscow Bureau at djnews.moscow@dowjones.com
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