Salzgitter expects insurance to cover possible South Stream project loss

Friday, 05 December 2014 17:28:02 (GMT+3)   |   Istanbul
       

Germany-based steelmaker Salzgitter Group has announced that any loss to be stemmed from the cancellation of the South Stream pipeline project will be covered by credit insurance.

EUROPIPE, Salzgitter's 50/50 joint venture with AG der Dillinger Huttenwerke, was supposed to supply 450,000 mt of steel pipes for the South Stream project.

Earlier this week, Russia announced its decision to abandon the pipeline project which was to transport natural gas from Russia to Europe without crossing Ukraine.


Similar articles

US rig count increases while Canadian count drops

15 Mar | Steel News

Liberty Pipes Hartlepool to supply line pipes for energy infrastructure development project

15 Mar | Steel News

Turkey’s Borusan Boru begins trial production at assets in Romania and US

15 Mar | Steel News

Mexico maintains AD duties on seamless steel pipe imports from four countries

14 Mar | Steel News

Local Chinese steel pipe prices follow downward trend

14 Mar | Tube and Pipe

US assigns zero preliminary dumping margin for circular welded pipe from Thailand

14 Mar | Steel News

Turkey’s Erciyas Çelik Boru’s sales revenues up 134.8% in 2023

13 Mar | Steel News

ArcelorMittal buys stake in France’s Vallourec

13 Mar | Steel News

US standard pipe imports down 17.9 percent in January

12 Mar | Steel News

US issues final AD margins for light walled rectangular pipes from Mexico

12 Mar | Steel News