Allseas set to sign major pipe laying deal

Swiss-based offshore contractor Allseas is on the verge of signing another major pipe laying deal, after securing the TurkStream pipeline deal last week.

Apart from TurkStream work, Allseas has also signed a letter of intent to work on offshore pipelaying for the Nord Stream 2 Pipeline through the Baltic Sea, that will carry Russian gas to the EU.

Under the letter of intent, Allseas will carry out offshore pipelay works for the first line and also provides the option to book capacities from Allseas for the second line up to the end of the first quarter of 2017.

Negotiations to finalize the contract will continue within this timeline, Nord Stream 2 said on Friday, adding that other tenders including the near-shore pipelay tenders in Russia and Germany are ongoing.

Henning Kothe, Chief Project Officer of Nord Stream 2 AG said: “This step follows a thorough tender evaluation procedure in the highly specialized offshore pipelay market. We are pleased to have secured the necessary pipelay capacity for our project. The Nord Stream 2 Team will work in the next weeks to optimize and finalize the awards for both lines. It is a further important milestone in the development of the Nord Stream 2 project.”

As this is still a letter of intent, and not a firm contract, no details on the financial value of the deal were given.

While we know that the Pioneering Spirit – the crown jewel of Allseas’ fleet – will be used for the TurkStream pipeline, it remains to be seen which vessel will be used for the Baltic Sea work. We have reached out to Allseas seeking more info, and will update the article with any response we receive.

Offshore Energy Today Staff

Related news

List of related news articles