Why Eni's Head Met With Gazprom's CEO In Moscow

According to Sputnik News, Eni SpA (ADR) (NYSE: E)'s Chief Executive Officer, Claudio Descalzi, met with Gazprom's CEO, Alexei Miller, in Moscow on Friday.

The meeting of the two executives was also confirmed by Eni in a press release.

The two executives discussed gas market prices and also reiterated the "close partnership" between the two companies in the Italian gas market.

According to Eni's press release, the two companies "have committed to take the necessary measures to maximize the sales of Russian gas within the long-term contracts existing between the parties"

Shares of Eni were trading higher by nearly 3 percent at $28.18 by mid-Friday afternoon.