Difficult day for Saipem's stock market share, which at the end of the morning left more than two percentage points on the field, at 8,75 euros, traveling at the end of the Ftse Mib. News of the stock triggered the sell-off dissolution of the consortium for the construction of South Stream, the gas pipeline that was supposed to connect Russia and the EU without passing through other non-EU countries.
Gazprom has announced that it will liquidate the other shareholders of the project (Eni with 20%, Edf e Wintershall – group Basf – both at 15%), buying their shares. For Eni, the collection will be around 400 million: "Positive news, but minimal quantitative impact", according to Equita analysts.
The Saipem share (which has lost over 40 percentage points in Piazza Affari since the beginning of the year) had also experienced sharp declines at the beginning of December, after the announcement of the halt to the project by the Russian president Vladimir Putin.
As for the economic consequences, on 10 December the plant engineering company of the Eni group announced that "the approval of the 2015 guidance, which will result from the results of the analyzes that will be carried out, is expected by the February meeting", on the agenda for the 16th.
Saipem's contracts with the South Stream consortium amounted to approximately 2,4 billion.
