Saipem Settles South Stream Pipeline Dispute

South Stream Transport and Saipem have settled the arbitration concerning the South Stream offshore pipeline installation contract entered into on March 14, 2014.

According to Saipem, the companies have positively ended their negotiations signing an agreement to amicably settle the arbitration.

In March 2014, Saipem was contracted by South Stream Transport for the construction of the first line of the South Stream offshore pipeline, from Russia to Bulgaria across the Black Sea, for a total value of approximately € 2 billion.

In 2015, Saipem filed a €759 million claim against Gazprom-owned South Stream Transport after Russia decided to scrap the South Stream project resulting in the termination of the contract.

The request  for arbitration against South Stream Transport was served at the ICC of Paris.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 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 1 2

Shallow and Deepwater Mexico Exhibition and Conference

Shallow and Deepwater Mexico, an offshore oil and gas exhibition and conference is the key center for the international offshore oil and gas community in Mexico. 

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >