By Giulia Petroni

Eni SpA said late on Tuesday that it plans to sell its stake in the Blue Stream gas pipeline that it co-owns with Russian state-owned giant Gazprom PJSC.

The Italian oil-and-gas major owns a 50% stake in the pipeline linking Russia to Turkey through the Black Sea.

"Eni's current presence in Russia is marginal," the company said, adding that joint ventures with Rosneft Oil Co. have already been frozen for years following international sanctions put in place against Russia in 2014.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

March 02, 2022 05:09 ET (10:09 GMT)

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