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  • Saipem: update on the South Stream project
    édité le 05/12/2014 - Plus de news de "SAIPEM" - Voir la fiche entreprise de "SAIPEM"


Saipem: update on the South Stream project
With reference to the press release published on December 2, 2014 regarding the South Stream project, Saipem announces that it has received a "Notification of suspension of Marine Spread activities" from the client.

The notification covers all vessels currently engaged in activities related to pipe laying.

At present it is not possible to determine the economic impact of the suspension on Saipem’s business, as both the duration of the suspension and the client’s ultimate decision on the project are unknown.

About South Stream

South Stream is Gazprom's global infrastructure project aimed at constructing a gas pipeline with a capacity of 63 billion cubic meters to Southern and Central Europe for the purpose of diversifying the natural gas export routes and eliminating transit risks. The first gas will be supplied via South Stream in late 2015. The gas pipeline will reach its full capacity in 2018.
Eni holds a 20 per cent stake in South Stream Transport, a joint project company focused on the construction of South Stream's offshore section. Italy is the second largest importer of Russian gas to the EU after Germany. In 2013 the volume of Gazprom's supplies to Italy made up 25.3 billion cubic meters of gas.

About Saipem

Saipem operates in the Engineering & Construction and Drilling businesses, with a strong bias towards oil & gas-related activities in remote areas and deep-waters. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetization and heavy oil exploitation.

About Gazprom

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.

Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.

Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18 and 72 per cent respectively. Gazprom accounts for 14 and 74 per cent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad.

Gazprom is a reliable supplier of gas to Russian and foreign consumers. The Company owns the world’s largest gas transmission network – the Unified Gas Supply System of Russia with the total length of over 168 thousand kilometers. Gazprom sells more than half of overall produced gas to Russian consumers and exports gas to more than 30 countries within and beyond the former Soviet Union.


Origine : Communiqué SAIPEM

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