Saipem sued the “daughter” of “Gazprom” for the recovery of more than € 759 million – Forbes Russia

The Italian company Saipem, which was to build the first line of “South Stream”, filed a lawsuit for the recovery of € 759 million in the International Chamber of Commerce to belonging to “Gazprom” to the operator South Stream Transport BV, which had previously terminated the contract with the Italian contractor and blocked construction pipeline. This is stated in the documents of Saipem.

In March 2014, a consortium of South Stream Transport signed a contract with Saipem for the construction of the first line of the offshore section of the “South Stream” by € 2 billion, but after Russia’s refusal to build the “South Stream “through Bulgaria and the decision to build the pipe through Turkey, the Russian company dissolved the contract with Saipem.

The documents stated that Saipem has filed a request for arbitration, November 10, 2015. The amount of the claim amounted to approximately € 759 million. A source at the Italian company told RBC that this amount consists of the evaluation of the work already done, but the amount could rise – due to damage due to termination of the contract and neustoki. It is noted that the claim may be included in the overall claim for damages for breach of contract and penalties to the South Stream Transport BV. «My daughter” of “Gazprom” has been advised of directional lawsuit December 15, 2015.

The representative of the South Stream Transport According to RBC by an official representative of “Gazprom”, the company was notified of the filing of a claim to arbitration because of disagreement on the contract for the construction of the “South Stream”. According to the source, South Stream Transport tried to negotiate a settlement of the dispute by peaceful means, but Saipem has decided to send a claim. The representative noted that South Stream Transport is going to defend its interests and fully contested the claims of the Italian company.

A source in “Gazprom” said the Italian side demands the full payment to terminate the contract at € 1,2 billion but the Russian company It intends to pay only for completed work and a penalty. Interlocutor RBC reported that the total amount recognized by the company, is “more than € 700 million,” net of the listed contractor resources.

The contract with Saipem S.p.A. It was concluded in 2014 within the framework of the project “South Stream”, but later because of Russia’s refusal to implement this project, the contract is renewed on new conditions for the construction of the first line of “the Turkish stream,” however, and the contract was terminated in July 2015. “This decision was dictated by the inability to reach agreement on many workers and commercial matters of the project” Turkish Stream “,” – explained while South Stream Transport BV.

In January, the head of “Gazprom” Alexei Miller said that Saipem is one the contenders for the construction of the “Nord Stream 2″. The contract price for the construction of two lines of a total length of 2,500 km will be more than $ 4 billion.