Nabucco, South Stream Can't Converge, Eni Chief Scaroni Tells La Stampa

The proposed Nabucco and South Stream pipeline projects to bring natural gas to Europe aren’t likely to converge because Nabucco is behind schedule, Eni SpA Chief Executive Officer Paolo Scaroni told La Stampa.

While Eni was in the past interested in a convergence to reduce costs, it’s currently “impossible to have synergies with something that doesn’t exist,” Scaroni told the newspaper in an interview published today. He was responding to remarks by David Thorne, the U.S. ambassador to Italy, cited in La Stampa yesterday saying that the two pipelines could converge.

To contact the reporters on this story: Alessandra Migliaccio in Rome at amigliaccio@bloomberg.net.

To contact the editor responsible for this story: Will Kennedy at wkennedy@bloomberg.net