Saipem Remains on South Stream Work Suspension

Italy’s Saipem has said that it does not expect significant changes in South Stream suspension status until 19th February 2015.

Namely, Saipem received a “Notification of suspension of Marine Spread activities” short after Russia announced the cancellation of the pipeline project for gas from the Black Sea to Europe.

South Stream Transport BV contracted Saipem to perform the offshore laying of the first line and construct the landfalls and shallow-water parts for all four pipelines, as well as complementary works on line 2.

However, on December 4, the suspension notification put a stop on all the Saipem vessels involved in the pipe laying activities.

The Italian company said that South Stream Transport B.V. has reserved their rights to amend the suspension notice in accordance with the relevant contract terms.

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