OMV: Consultations with Gazprom on South Stream Continue

Austrian oil and gas company OMV has said it continues consultations with Russian energy giant Gazprom on the South Stream gas pipeline project.

According to a media statement of the company, as cited by TASS, talks between OMV and Gazprom are ongoing.

Italy's Sapiem, majority owned by Eni, announced that it had been notified about the suspension of the project.

Sapiem had been contracted to carry out a major part of the South Stream pipeline work in the Black Sea.

Earlier, OMV CEO Gerhard Roiss said Gazprom had not consulted OMV before announcing the suspension of the gas pipeline project.

Roiss also made clear that he expected talks between OMV and Gazprom on the South Stream.

Russian President Vladimir Putin declared in Ankara on December 1 that Russia was dropping the South Stream gas pipeline project.