Jan. 12 (Bloomberg) -- Gas Plus SpA, Italy’s fourth-biggest producer of natural gas, said it’s interested in reaching an agreement for storage and imports with Russia’s OAO Gazprom.

“The group is interested in developing its storage facilities, also in the form of a partnership, as well as other ways of securing medium- and long-term supplies both for the Italian and European market,” Chief Executive Officer Davide Usberti said in an interview with Bloomberg Television today.

Italy is seeking to diversify the sources from which it draws natural gas. Supplies to Europe came to a halt last week as Russia and Ukraine argued over the price of the fuel. A pipeline through the Ukraine brings gas from Russia to the rest of Europe. A similar dispute interrupted gas supplies in January 2006.

Italy’s situation “hasn’t changed much” from a couple of winters ago in terms of the countries it imports gas from and its infrastructure, Usberti said. In May, Gas Plus said it suspended talks with Gazprom on managing storage and imports because of a scarcity of natural gas supplies.

The Milan-based company’s earnings in the fourth quarter were “very positive” following an increase in earnings before interest, taxes, depreciation and amortization of 36 percent in the first nine months of the year, Usberti said. Results in 2009 will be “more conservative” following a drop in oil prices, to which gas prices are linked.

Gas Plus was founded in 1905 and also transports and distributes the fuel, as well as selling to households.

Gas Plus fell 0.4 percent to 7.40 euros at 2:10 p.m. in Milan, giving the company a market value of 332 million euros ($445 million.)

To contact the reporter on this story: Armorel Kenna in Milan at akenna@bloomberg.net; Michele Seghizzi in London at mseghizzi@bloomberg.net

Last Updated: January 12, 2009 09:40 EST