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Saipem to Suspend South Stream Activities

Saipem to Suspend South Stream ActivitiesSaipem to Suspend South Stream Activities

Italian oil services company Saipem has been notified to suspend the marine work it was commissioned to do for the South Stream natural gas pipeline, RT reported. Having 43 percent stake in the project, Saipem could lose $1.55 billion in revenue next year due to the scrapping of South Stream, according to CEO Umberto Vergine.

 

Financialtribune.com