Italian company receives official notification on suspension of South Stream
Baku, December 6, AZERTAC
Saipem, a unit of Russian gas giant Gazprom’s Italian partner Eni, has received an official notification on suspension of the South Stream project and is now assessing damage from it, according to the company’s statement seen by PRIME Friday.
“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 lying,” the company said.
“At present it is not possible to outline the economic impact of the Saipem’s business suspension, as both the duration of the suspension and the client’s ultimate decision on the project is unknown.”
A representative for OMV, an Austrian partner for the closed project, told PRIME the company is still carrying consultations with Gazprom on the South Stream. “We are in contact with Gazprom,” the representative said.
On Wednesday, Saipem CEO Umberto Vergine told Italian daily Sole 24 Ore the company will fall €1.25 billion short of revenue in 2015 due to the South Stream closure.
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