Gazprom and GSP in 179 million Euro olympic fuel deal
Russia’s natural gas producer Gazprom has sealed a 179 million Euro deal with Romanian offshore drilling company Grup Servicii Petroliere (GSP) for the construction of a 150 km gas pipeline under the Black Sea connecting the Dzhubga-Lazarevskoe-Sochi pipeline to the Russian-Turkey gas pipeline, in the city of Gorski February 2010 - From the Print Edition
GSP participated in an international tender, together with large players from Italy and the United Arab Emirates (UAE).
This project is designed to provide natural gas for Russia’s Krasnodar territory and the Black Sea coast and will fuel the Russian town Sochi, which will host the 2014 Winter Olympic Games. GSP has recently signed a 67.5 million Euro contract, with Turkey’s TPAO to build a fixed platform in the Black Sea, and a 33.8 million Euro contract for a submarine pipeline in Bulgaria.
GSP is the largest company of mixed interest group Upetrom, which works in onshore and offshore drilling, oilfield equipment production, as well as in tourism. Upetrom, controlled by Romanian businessman Gabriel Comanescu, has more than 5,000 employees and operates in countries including USA, Canada, UAE, Norway, Russia, Ukraine, Kazakhstan and Uzbekistan.
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