Saipem updates South Stream suspension status
South Stream Transport B.V. has notified Saipem that it does not expect significant changes in the suspension status until Feb. 19, 2015.
This applies to construction of the offshore gas pipelines across the Black Sea, from Russia to a landfall on the Bulgarian coast. Late last year operatorGazprom opted to postpone the project and then acquired the shares held by its western European partner oil companies.
South Stream Transport has reserved the right to amend the suspension notice in accordance with the relevant contract terms.