Russian gas major Gazprom and Italian energy major Eni are planning to construct a natural gas pipeline from Libya to Southern Europe, spanning the Mediterranean Sea, according to the International Herald Tribune.

The news source reported that Gazprom and Eni are interested in developing the pipeline project in a bid to diversify supply sources, but could also mean more Gazprom influence in the European energy matrix.

Energy sector analysts are reportedly looking at Gazprom’s ambitions in North Africa as part of a double-pronged approach to dominate the European energy market, with plans already afoot to build an elaborate network of gas pipelines in Southeastern and Northern Europe, according to the International Herald Tribune.

Gazprom has acquired exploration and development licenses in Libya in 2007, and is contemplating an investment of $300 million over 2009, in the gas pipeline project it is planning with Eni.