Gazprom cancels Saipem deal on the Black Sea gas pipeline

Gazprom cancels Saipem deal on the Black Sea gas pipeline

Russia’s Gazprom has cancelled a contract with Italian oil services group Saipem to build the first line of a gas pipeline beneath the Black Sea, the Russian state gas company said in a statement on Wednesday according to reports by Reuters.

Gazprom said it will start talks with other potential contractors to build the first line of the Turkish Stream pipeline, which would run beneath the Black Sea to Turkey. The project would consist of four lines, each capable of carrying 15.75 billion cubic metres of gas per year.

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