Kommersant: Saipem, Technip Among Bidders for $4B Nord Stream Tender

Reuters

MOSCOW, Jan 13 (Reuters) - Italy's Saipem and France's Technip are among the companies vying for a $4 billion contract to expand the Nord Stream gas pipeline, Russian business daily Kommersant reported on Wednesday citing sources.

Media reports have earlier suggested Saipem would participate in the pipeline expansion, driving its shares higher.

Swiss Allseas and the Netherlands-based Royal IHC are also bidding for the right to secure the contract to build the second part of the pipeline, which ships Russian gas to Germany via the Baltic Sea, Kommersant said.

It said the tender to build two more pipelines of total length of 2,500 kilometres (1,553 miles) was expected to be held in January.

The Nord Stream II consortium, led by Russia's Gazprom, told Reuters the tender would be held in 2016.

"There are several market players that are able to and interested in participating in the Nord Stream 2 Project, but as a matter of principle we cannot comment on any of the potential bidders and on details of the tender process," Nord Stream said in emailed comments.

Gazprom declined to comment. Saipem and Technip were not immediately available for comment.

(Reporting by Vladimir Soldatkin; Editing by Gopakumar Warrier)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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