Saipem filed a lawsuit against Gazprom over South stream

Saipem filed a lawsuit against Gazprom over South stream

Moscow. February 1. Italian construction company Saipem, hired by Gazprom for laying offshore pipeline “South stream” and then “Turkish stream” filed a lawsuit against a subsidiary of Russia’s concern.

“November 10, 2015 Saipem S. p.A. sent a request for arbitration against South Stream Transport B. V. (now it is 100-percentage “a daughter” “Gazprom”) in International chamber of Commerce in Paris. The amount in dispute is approximately 759 million euros”, – stated in the materials of Saipem.

As reported, the contract with South Stream Transport B. V. with Saipem included the development of working documentation and construction of the first string of the offshore section of the gas pipeline project “South stream”, as well as the construction of technological objects on sites landfall and construction sites crossing the coastline – around 2 billion euros.

Recently “Gazprom” reported that Saipem claims the building is more likely to implement the Nord Stream gas pipeline 2. Forward-looking statements involvement of Saipem in the project “Gazprom” made after the lawsuit was filed by the Italian company.

In July of last year it became known that the Italian company had to lay off nearly 9 thousand people due to the rupture of the contract for the construction of a pipeline under the Black sea. Saipem was forced to take this measure to save about 1.3 billion euros and to remain competitive in its market.