Eni is seeking to sell its 33% stake in the Elephant oil and gas production field project in Libya to Russian gas producer, Gazprom, Trading Markets reports. The Italian oil and gas company will get a total of about $163 million from the sale. Additionally, the two parties have also agreed on the gas sale contract for the gas, which will be produced in the Siberian fields of Severenergija. The Italian-Russian partnership also includes the launch of a South Stream pipeline, which will carry gas from Russia to the European Union, adds Bloomberg.

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