Gazprom cancels Saipem pipeline contract
The company will no longer lay the first line of subsea pipeline South Stream
Gazprom has informed Saipem that it is cancelling the contract to lay the first line of the subsea pipeline South Stream that was concluded in 2014, it said 8 July. “The decision has been dictated by the impossibility of reaching an agreement on many practical and commercial questions to do with the execution of the Turkish Stream project,” the Russian exporter said. However, other work is continuing and in the very near future, South Stream Transport will enter into talks with possible contractors for laying the first line of Turkish Stream, it said. South Stream Transport morphed into the project company for Turkish Stream when Russia’s president, Vladimir Putin, resolved to scrap South St
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
