Hearings of the €679-million claim filed by Italian Saipem against Russian gas holding Gazprom due to the termination of a contract for construction of South Stream gas pipeline are scheduled to be held in May 2018.
However, Gazprom has filed a counter-claim for €730 million, as it follows from the company’s report.
In December 2015, the Secretariat of the Arbitration Court at the International Chamber of Commerce informed South Stream Transport B. V. (SST), which is an operator of a project for South Stream gas pipeline, that Saipem had initiated arbitration proceedings against South Stream Transport B. V.
That move of the Italian company was connected with the unilateral termination of a contract dated the 14th of March 2014 for construction of South Stream gas pipeline.
