Austrian company secures new South Stream gas pipeline contract

GMT 09:35 2014 Saturday ,06 September

Arab Today, arab today Austrian company secures new South Stream gas pipeline contract

Contract signing
Vienna - XINHUA

Austrian steel-based technology company voestalpine AG has secured a second contract for the South Stream gas pipeline, it revealed in a statement released Friday.
In a deal estimated to be worth over 130 million U.S. dollars, the Linz-based company will deliver 120,000 tons of sour-gas-resistant line pipe plates between December 2014 and Spring 2015 for the offshore section of the second South Stream pipeline that connects Russia to Western Europe.
Of the 2,300-km total length of the pipeline, 931 km will run offshore, in depths of up to 2.2 km.
As with the first South Stream pipeline project, voestalpine will once again work with long-term Russian partner-company OMK-Steel who will take on 35 percent of the project volume, and source around half of its requirements for the heavy plate used in the pipeline from voestalpine in Linz.
The Austrian company stated the project will not be affected by sanctions between Russia and the European Union.
The deal marks the third major contract in the pipeline business for the company for the year, along with the two South Stream projects having also secured a project for the Rota 3 pipeline in Brazil. A spokesperson said further negotiations concerning other pipeline projects are also underway.

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