Italians got Nord Stream contract
The Russian-German-Dutch Nord Stream company has signed a 1 billion EUR contract with Italian Saipem S.p.A. over the laying of the Nord Stream gas pipeline.
Saipem will begin laying activities in the first months of 2010 by using two pipelaying vessels, in order to complete the laying of the first line in the first half of 2011, a press release from Nord Stream reads. Saipem is 43 percent owned by Italian energy major Eni.
The 1200 km pipeline across the Baltic Sea will give Russia a direct link to Germany and Western Europe. The pipeline, which is to be completed by year 2011, will be built between Vyborg, Russia, and Greifswald in Germany.
The Nord Stream pipeline is also planned to transport gas from the Shtokman field in the Barents Sea.
