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Eni's TAG pipeline stake sold

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Eni's TAG pipeline stake sold

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The Italian oil and gas group Eni has sold its stake in the TAG gas pipeline as it was ordered to do in a European competition ruling.

Eni’s 89 percent stake in the pipeline – which transports gas from Russia to Italy and Austria – has been bought by an Italian state owned financing organisation in a deal worth 675 million euros.

Under the competition ruling it has to sell two more gas pipelines.