Gulf Oil and Gas accountACCOUNT

Russia's Gazprom Cancels Saipem Deal on the Black Sea Gas Pipeline

Source: Reuters 7/8/2015, Location: Asia

Russia's Gazprom has cancelled a contract with Italian oil services group Saipem to build the first line of a gas pipeline beneath the Black Sea, the Russian state gas company said in a statement. Gazprom said it will start talks with other potential contractors to build the first line of the Turkish Stream pipeline, which would run beneath the Black Sea to Turkey. The project would consist of four lines, each capable of carrying 15.75 billion cubic metres of gas per year.

Saipem said last month it was asked by Gazprom to start work on a pipeline under the Black Sea, which should avoid Ukraine as a transit country for roughly half of Russian gas shipped to Europe.

On Wednesday, Gazprom said it canceled the deal with Saipem after it faced a number of issues regarding the Turkish Stream. Gazprom did not elaborate with whom it faced issues.

The first line, which was due to be launched next year, would have supplied only Turkey. However, Russia and Turkey have yet to agree on the price of the gas. Turkish energy company BOTAS has threatened Gazprom with international arbitration if a price deal is not reached.

The Turkish Stream project replaced an earlier proposal from Gazprom called the South Stream gas pipeline, which would have run from Russia to Bulgaria across the Black Sea. Saipem won contracts worth 2.4 billion euros ($2.7 billion) last year mainly to build the first line of the South Stream gas pipeline. Gazprom abandoned the project last year due to objections from the European Union.

Oil and Gas Pipeline >>

Oil and Gas Pipeline News in Russia >>

United States >>  2/16/2021 -  Magellan Midstream Partners, L.P. has launched an open season to assess firm customer interest in the potential expansion of the partnership's New Me...
Canada >>  2/12/2021 - TC Energy Corporation (TRP) (TC Energy) announced it has cancelled an open season launched on January 6, 2021 to solicit binding commitments for crude...

India >>  2/7/2021 - The Prime Minister, Shri Narendra Modi today visited Haldia, West Bengal and dedicated to thenation the LPG import terminal, 348 km Dobhi – Durgapur N...
United States >>  2/4/2021 - CorEnergy Infrastructure Trust, Inc. announced the acquisition (the “Transaction”) of Crimson Midstream Holdings, LLC (“Crimson”), a California Public...

United States >>  1/27/2021 - WhiteWater Midstream (WWM) announced that the Agua Blanca pipeline system expansion has entered commercial service. The 1.8 billion cubic-feet-per-day...
United States >>  1/27/2021 - Pantheon Resources plc, the AIM-quoted oil and gas exploration company with 100% working interest in approximately 160,000 acres located adjacent to t...

Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 |

Oil & Gas Projects in Russia >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.