Saipem Says Signed Amicable Agreement On South Stream Dispute With Gazprom Subsidiary

Saipem Says Signed Amicable Agreement on South Stream Dispute With Gazprom Subsidiary

Italy's Saipem and Gazprom subsidiary South Stream Transport B.V. (SSTBV) signed an amicable agreement on a dispute related to the unimplemented South Stream gas pipeline project, the Italian company said in a statement Thursday

MOSCOW (Pakistan Point News / Sputnik - 18th April, 2019) Italy's Saipem and Gazprom subsidiary South Stream Transport B.V. (SSTBV) signed an amicable agreement on a dispute related to the unimplemented South Stream gas pipeline project, the Italian company said in a statement Thursday.

"South Stream Transport B.V. and Saipem S.p.A. positively concluded their negotiations by signing an amicable agreement on a dispute regarding the contract to lay the South Stream pipeline, signed on March 14, 2014," it said.

In December 2014, Russia, citing the EU's unconstructive position, gave up on South Stream in favor of a new gas pipeline toward Turkey (TurkStream). Saipem was supposed to have taken part in laying the South Stream.