Gazprom cancels first phase of Turkish Stream pipeline

Italian contractor Saipem has announced that it has received a termination notification from Russian gas monopoly Gazprom regarding the construction of the first phase of the Turkish Stream pipeline which would transport Russian gas through Turkey to Europe.
Saipem said that one of its vessels was about to arrive in Russian waters to start laying pipeline sections.
Gazprom was planning to build another pipeline called South Stream to carry gas under the Black Sea to Bulgaria, and from there to the rest of the EU, but this was cancelled due to an EU rule indicating that one company should not both own the pipeline and the gas it carries through the EU.

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