SOUTH STREAM'S OFFSHORE SECTION
NGE. Russia's Gazprom announced it is proceeding with the South Stream's offshore section, signing contracts with Italy's Saipem and a Japanese consortium comprised of Marubeni-Itochu and Sumitomo (40% of total output), United Metallurgical Company (35%) and Severstal (25%).
Oleg Aksyutin, Chief Executive Officer of South Stream Transport, and Stefano Bianchi, Senior Vice President of Saipem, signed a contract on Friday for the construction of the first line of the offshore section.
'According to the signed contracts worth around EUR 2 billion, Saipem will generate…
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