Industry Briefs

04/17/2000
PipelinesENI SPA and Russia's Gazpromsigned contracts for $1.8 billion in loans to Blue Stream Pipeline Co. BV-a 50-50 joint venture of those two firms-and to Gazprom. The JV will build the Blue Stream natural gas pipeline, which will extend from Russia across the Black Sea to Turkey. ENI's engineering and construction arm Saipem SPA and its partners began initial work earlier this year on the 360-km subsea portion of the line, to be constructed and financed by the JV (OGJ, Feb. 21, 2000, p. 33). Gazprom will build and finance the 370-km Russian onshore section of the system.The Caspian Pipeline Consortium(CPC) let the last major contract for its Tengiz-Novorossiisk oil pipeline-a...
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