SAIPEM, RENAISSANCE IN RUSSIAN LNG

SAIPEM - Saipem, in Joint Venture with Renaissance, a Turkish oil&gas services company, has been awarded a new Onshore E&C project in the Russian Federation worth 2.2 billion Euro overall. As leader of the JV, with a shareholding of 50%, Saipem's portion of the total amount is therefore approximately 1.1 billion Euro.

The contract has been awarded by the company Artic LNG 2, consisting of Novatek JSPC (60%) and Ekropromstroy Ltd (40%).The project will be executed in the Tazovsky District, in the autonomous administrative region of Yamal-Nenets, in the western part of the Gydan Peninsula.

The project encompasses the construction of three Liquefied Natural Gas (LNG) plants, each with a capacity of about 6.6 million tons per annum (MTPA), that will be installed on Concrete Gravity Based Structures (GBS) and includes LNG storage facilities totalling 687,000 m3.

The works entrusted to the JV comprise the Design and Build of the three 30 metre high Concrete Gravity Based Structures on a surface of 330 x 152 metres. These Concrete GBSs will be fabricated in two dry docks in a Novatek provided facility in Murmansk. Subsequently, they will be towed and installed in Gydan.

The contract forms part of a strategic partnership agreement signed by Saipem and Novatek in 2016 for activities associated with LNG projects.

Stefano Cao, Saipem CEO, commented: "The awarding of this contract demonstrates how Saipem is fully integrated into the process of energy transition and represents a further success in the high added value LNG sector in which we have been operating for many years and in which, in the recent past, we have obtained important contracts. Finally, the signing of this contract reinforces the presence of Saipem in Russia, a country in which the Company has an important track record in the realisation of both onshore and offshore infrastructures".

-----

Earlier:

2018, December, 14, 08:35:00 ЯМАЛ СПГ 3: 16.5 МЛН. Т. МИНЭНЕРГО РОССИИ - В ходе совещания с членами Государственной комиссии по вопросам развития Арктики Дмитрий Медведев отметил, что в настоящее время доля России на мировом рынке СПГ составляет около 4%, при этом к 2035 году она возрастет до 15-20%. При этом в случае успешной реализации проектов "Ямал СПГ" и "Арктик СПГ 2" только валютные поступления составят около $30 млрд в год, отметил Дмитрий Медведев.

2018, November, 30, 11:55:00 RUSSIAN LNG IS BETTER REUTERS - The United States has been pressing Europe to cut its reliance on cheap Russian gas and buy much more expensive U.S. LNG instead, which many European countries, including industrial heavyweight Germany, have so far resisted.

2018, June, 6, 11:35:00 SAIPEM'S CONTRACT $1.3 BLN SAIPEM - Saipem has been awarded a Pipeline Project in the E&C Offshore sector in the Middle East worth approximately 1.3 billion USD.

2017, October, 25, 12:05:00 SAIPEM ADJUSTED NET PROFIT: €151 MLN “Despite the persistence of a challenging market context, Saipem’s performance in the first nine months of 2017 was solid from both an operational and management point of view, enabling the Company to confirm the guidance for 2017.

2016, September, 23, 21:00:00 NEW SAIPEM'S CONTRACTS: $430 MLN In Saudi Arabia, Saipem has been awarded an extension of three years to drilling activities being carried out by ten 2000 HP drilling rigs. In South America, in addition to various extensions ranging in duration from two to twenty-four months for medium and high power rigs in Peru, Colombia, Bolivia and Chile, Saipem has also been awarded a new contract for operations in Argentina, which will be carried out by an hydraulic type rig over a period of eighteen months.

2016, July, 7, 18:00:00 SAIPEM CONTRACT: $1.5 BLN Eni engineering and construction subsidiary Saipem on Thursday announced the award of offshore engineering and construction contracts with a combined value of more than USD 1.5 billion, including work related to the Zohr gasfield development project in Egyptian waters.

2015, October, 29, 19:05:00 ENI SELLS SAIPEM: €6.5 BLN Italy’s Eni executed a sale and purchase agreement to sell a 12% stake in Saipem to Fondo Strategico Italiano, as part of a plan designed to collect €6.5 billion.