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    Saipem confirms South Stream deal is cancelled

    News // December 11, 2014

    Saipem says it has received a 'Notification of suspension of Marine Spread activities' for the South Stream gas pipeline project.

    The notification covers all vessels currently engaged in activities related to pipe laying.

    "At present it is not possible to determine the economic impact of the suspension on Saipem’s business, as both the duration of the suspension and the client’s ultimate decision on the project are unknown," the company said.


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