Saipem CEO: Russia "Extremely Determined" on South Stream

WorldEnergyNews.com
Thursday, April 24, 2014
Umberto Vergine (Courtesy Saipem)

Russia is very keen to press ahead with construction of the South Stream pipeline that will carry Russian gas to Europe avoiding Ukraine, the CEO of Italian oil service group Saipem said on Thursday.

"The client is extremely determined to go ahead," Umberto Vergine said in a conference call with analysts.

He said the client aimed to complete a second line by the end of 2016.

In March, Russian energy giant Gazprom said Saipem had won deals worth 2 billion euros to build the first stage of the underwater South Stream gas pipeline which is led by Gazprom.

Vergine said work on the first line would begin at the end of this year.

Scepticism has been expressed over the project's viability due to strained East-West relations after Russia annexation of the Crimea.

(Reporting by Stephen Jewkes; editing by Francesca Landini)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Austal Graduates 48 4-Yr Apprentices

Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R.

Chile Desert Rains Sign of Climate Change

The heavy rainfall that battered Chile's usually arid north this week happened because of climate change, a senior meteorologist said, as the region gradually

News

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Viking Bags Charter Deal for AHTS Brage Viking

Viking Supply Ships has entered into a contract with an Oil major for the charter of “Brage Viking” commencing 1stof April 2015. The duration is for 2 years and 8 months firm,

Transit Waiting Times for Panama Canal

Non-booked regular sized vessels wishing to transit the Panama Canal face a wait of approximately 5-6 days. There has been a dramatic increase in the transit

People in the News

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Austal Graduates 48 4-Yr Apprentices

Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R.

Chile Desert Rains Sign of Climate Change

The heavy rainfall that battered Chile's usually arid north this week happened because of climate change, a senior meteorologist said, as the region gradually

Government Update

Mexico Unveils National Strategy ahead of Paris Climate Talks

Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Port of Aden Under Threat with Enemy at the Gates

As Saudi Arabia and its Arab allies stage air strikes against Shi'ite Muslim militiamen threatening to topple Yemeni President Abd-Rabbu Mansour Hadi, the southern

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1680 sec (6 req/sec)