south stream

Saipem informs that late in the evening of July 8th it received notification of the termination for convenience of the South Stream BV contract. The termination for convenience is a standard contractual clause which provides for the termination of the agreement in the absence of a contractual breach, with compensation …

In December 2014, ShawCor Ltd. announced the suspension of the majority of the work on its South Stream Pipeline contracts with Europipe GmbH and Marubeni Sumitomo Consortium (with a combined value of approximately US$100 million) and with Saipem SpA (with a value of approximately C$30 million). ShawCor announced today that …

Eni entered into an agreement for the sale of its 20% stake in South Stream Transport B.V. to Gazprom. Following the transaction, Eni will recover the capital invested to date in the project, calculated coherently with existing agreements. Before the agreement, South Stream Transport was owned by Gazprom with a …

With reference to the contract for the construction of the South Stream pipeline, Saipem notes the statements made by the Russian authorities and Gazprom’s chairman in the media. Saipem states that it has not received any formal notice of termination of the contract from the client, South Stream Transport BV. …

President Vladimir Putin said Russia scrapped a proposed $45 billion Black Sea pipeline to carry gas to Europe, the latest sign economic ties with the European Union are breaking down as the Ukraine crisis persists. Shelving the South Stream project ensures pipelines through Ukraine will remain vital supply links to …

President Vladimir Putin said Russia scrapped a proposed $45 billion Black Sea pipeline to carry gas to Europe, the latest sign economic ties with the European Union are breaking down as the Ukraine crisis persists. Shelving the South Stream project ensures pipelines through Ukraine will remain vital supply links to …

The Ministry of Environment and Urban Planning of Turkey approved the Environmental Impact Assessment (EIA) Report and issued a positive opinion of the EIA results for South Stream’s offshore section in Turkey. The Report contains the assessment of potential environmental impacts caused by the gas pipeline construction, including the impact on the seabed geology, water quality and marine ecology. The …

Alexey Miller, Chairman of the Gazprom Management Committee took part today in the South Stream Transport Supervisory Board meeting in Zurich (Switzerland). The Board members approved the signing of a contract for laying the first string of South Stream’s offshore section and a pipe procurement contract for the second string …

Alexey Miller, Chairman of the Gazprom Management Committee held a meeting dedicated to the South Stream and Southern Corridor projects. It was pointed out that the new route of Russian gas supply meant to increase the reliability of supply to European consumers and mitigate transit risks was being built in compliance with the schedule. Pre-construction activities at the South Stream offshore section are in full swing. An agreement to supply pipes …

The year 2013 has become a crucial stage for the development of Gazprom and the reinforcement of the Company’s leading positions in the Russian and global energy markets. The Company launched two offshore projects. In October the first gas was extracted from the Kirinskoye field where Russia’s first subsea production facility is installed. Two months afterwards Gazprom …