Gazprom cancels Turkish Stream contract

Gazprom terminates the contract with the Italian company Saipem for the construction of the first line of the Turkish Stream offshore gas pipeline.

As reported by Censor.NET, this was announced by TASS.

"This decision resulted from inability to reach agreement on many business and commercial matters regarding the Turkish Stream project," the statement reads.

Read more: Turkmenistan declared Gazprom insolvent with no payments received for six months

It is noted that other works under the project continue. Moreover, in the near future South Stream Transport B.V. intends to start negotiations with potential contractors for laying the first line of the Turkish Stream pipeline.

Read more: We are not going to subsidize Russian Gazprom, Arsenii Yatseniuk says