South Stream Construction Contract Approved
- Business & Finance
The Supervisory Board of South Stream Transport B.V. today approved the signing of a construction contract for the South Stream Offshore Pipeline.
In March 2014, South Stream Transport B.V. plans to sign construction contracts covering offshore pipe laying of Line 1 and construction offshore crossings for all four lines and landfall facilities in Russia and Bulgaria.
The Supervisory Board also approved the signing of a pipe supply contract for the second line. Orders for the supply of pipes for Line 1 were placed with producers in Russia and Germany on 29 January 2014. Suppliers for Line 2 will be announced upon conclusion of the contracts.
The Supervisory Board acknowledged that the project is of European importance to guarantee the energy supply.
Press Release, March 11, 2014