Russian President Vladimir Putin and Italian Prime Minister Silvio Berlusconi expressed their readiness to expand bilateral cooperation in the energy sector during their talks on Monday.

Russia and Italy have "very serious plans" to develop relations in the energy sector, Putin told a joint press conference with Berlusconi after their talks in the Black Sea resort of Sochi, according to the Itar-Tass news agency.

Putin named the Blue Stream pipeline as one of the priority projects Russia and Italy have developed together, saying cooperation on this project could continue in a trilateral format, together with Turkey.

Russia, Italy and Turkey built the Blue Stream pipeline, which is routed along the Black Sea bed to Turkey. Currently, 4.5 billion cubic meters (bcm) of gas is pumped every year through the pipeline which has a capacity for 16 bcm.

Russia plans to expand its transport capabilities in all directions to minimize dependence on intermediaries, Putin said, and he left the door open for boosting mutual investment in the two countries' energy sector.

"We are interested in our companies -- primarily (Russian gas monopoly) Gazprom -- being given the opportunity of additional investments to the Italian energy sector, including to its gas distribution networks," Putin said.

Russia is also ready to consider Italian investment opportunities to Russia's energy sector, the president said.

Russia's electricity monopoly Unified Energy System intends to work with an Italian communications firm on its projects in Nizhny Novgorod, according to Putin.

Berlusconi, who arrived in Sochi Sunday on a three-day working visit to Russia, also discussed the fight against terrorism with Putin, saying they share the view that the international community should not allow double standards in the anti-terror campaign.

Source: Xinhua