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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SHIPPINGInsight Extends Early-bird Registration

SHIPPINGInsight 2014 is extending the deadline for early-bird registration to Sept. 15. Attendees registering online at www.shippinginsight.com/choose-event prior to midnight Sept.

Pearl Seas Cruises Embarks on Inaugural Sailings

Just six weeks into its inaugural season, Pearl Seas Cruises has announced the successful start of its 210-passenger flagship, Pearl Mist, which currently operates

Thor Offshore to Implement BASSnet Suite

Thor Offshore, an offshore support services provider and fisheries company, has chosen the integrated software suite BASSnet Fleet Management Systems as a part

News

SHIPPINGInsight Extends Early-bird Registration

SHIPPINGInsight 2014 is extending the deadline for early-bird registration to Sept. 15. Attendees registering online at www.shippinginsight.com/choose-event prior to midnight Sept.

Warming Aids Arctic Economies, but Short of 'Cold Rush'

Climate change is aiding shipping, fisheries and tourism in the Arctic but the economic gains fall short of a "cold rush" for an icy region where temperatures are

Pearl Seas Cruises Embarks on Inaugural Sailings

Just six weeks into its inaugural season, Pearl Seas Cruises has announced the successful start of its 210-passenger flagship, Pearl Mist, which currently operates

People in the News

Coast Guard Responds to Capsized Tug in Chicago

The Coast Guard is responding to the capsizing of a tug on the Calumet River near the 106th St. Bridge in Chicago in which two crew members were able to escape and swim to shore.

UK's Hound Point VLCC Jetty Down Until Sept. 15

The supertanker jetty at the North Sea's Hound Point crude oil terminal is shut for maintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday,

Joint Petroleum Development in South China Sea Makes Sense

Shared development of oil, gas and possibly other natural resources is the most promising option for reducing tensions in the South China Sea and should be the

Government Update

Iraq to Appeal US Court Decision on Kurdish Oil

The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas.

Coast Guard Responds to Capsized Tug in Chicago

The Coast Guard is responding to the capsizing of a tug on the Calumet River near the 106th St. Bridge in Chicago in which two crew members were able to escape and swim to shore.

Crippled Pine Galaxy Arrives in San Francisco

The disabled mixed-products tanker Pine Galaxy arrived in San Francisco for repairs Wednesday. Commercial tugs towed the ship safety into the Port of San Francisco

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Shipbuilding / Vessel Construction Sonar
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: 0.1898 sec (5 req/sec)