South Stream Transport B.V. and Saipem S.p.A. signed the 2bn euro worth contracts on the building of the first line within the South Stream project, Gazprom informed.
Saipem is going to develop working documentation and build technological objects in the coast. The sea gas pipeline laying is expected to start in autumn 2014. The first line is assumed to be launched in operation in IIIQ 2015.
Saipem S.p.A. is a sub of Eni (Italy) as one of the largest oil/gas subcontractors.