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
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
