Italy's Saipem SpA oil and gas
service provider won a 400-million-euro contract to engineer one
of four South Stream gas pipelines transporting Russian natural
gas through the Black Sea to Bulgaria, company sources said
Tuesday.
Saipem is a subsidiary of Italian energy company Eni, which
owns approximately 43% of its shares.
The South Stream project consists of four parallel
pipelines, each of them 931 kilometers long and lying up to
2,200 meters deep.
The contract for the second pipeline was an addendum to
the contract for the first pipeline signed last month.
Saipem's part should be completed by the end of 2016, the
company said.
The South Stream project was first announced in 2007 by Eni
CEO Paolo Scaroni and the deputy chairman of Russian energy
company Gazprom, Alexander Medvedev, who signed an agreement in
Rome that year.
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