Blue Stream contract calls for construction to begin in 2001

Nov 24, 1999 01:00 AM

The Blue Stream Pipeline Company BV, Saipem, Bouygues Offshore SA and a consortium of Mitsui & Co, Sumitomo Corp and Itochu Corp, contractors for the Blue Stream project, signed a contract worth $ 1.7 billion on November 23.
The contract calls for the construction of the Beregovaya compressor station and two 380-km gas pipelines, to be launched in 2001. All recipients maintain that Russia and Turkey should sign a protocol for special tax treatment to implement the project. Rem Vyakhirev, CEO of Gazprom, stated that the document will be signed and ratified by the Russian State Duma this December.

Source: VREMYA MN via NewsBase
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