Nord Stream Signs Contract With Saipem For Pipe-Laying Worth More Than 1 Billion Euros
June 24, 2008 | Zug | Nord Stream AG (Switzerland) and Saipem S.p.A. (Italy) have signed a contract for laying the Nord Stream gas pipeline, worth more than 1 billion Euros. 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. This is a prerequisite for first gas deliveries through the Nord Stream pipeline in 2011. The laying of the second line is scheduled for 2011 and 2012.
The present contract relates exclusively to the task of pipe-laying; negotiations with Saipem on shore approaches, tie ins, rock dumping, as well as testing and commissioning activities are still underway.
Saipem, 43 per cent owned by Eni, is a leader in the provision of engineering, procurement, project management and construction services for the oil and gas industry, with unique capabilities in designing and executing large-scale offshore and onshore projects. Saipem has strong expertise in operating in deep water and remote areas.
