ENI SPA has officially conferred the natural gas transmission and regasification system of its Snam unit on new company Società Rete Gas Italia, of which a significant share is going to be listed on the Stock Exchange by next autumn. The business is worth 9.6 billion euros.
Ecuador June 26 issued the final approval of the OCP Ecuador SA crude oil pipeline. Environmental concerns had delayed the approval. Techint SA has 25 months to build the $1.1 billion pipeline. The line will follow the route of the existing SOTE pipeline, except for a 100 km deviation north of Quito.
Enbridge Pipelines Inc., Calgary, has awarded Garneau Inc., Nisku, Alta., a $1.5 million pipe coating order for the Fort MacKay pipeline project. Work will begin mid-July.
