Italian Saipem quits two projects in Russia 'to reduce risks'

Italy's energy company Saipem has ended its participation in two projects in Russia, Report informs, citing TASS.

Company's CEO Alessandro Puliti said the decision to quit an oil refinery in Moscow and drilling of the Perro Negro 8 floating platform, which "is currently operating in another area," was in line with established rules and "to reduce risks."

According to the economic newspaper Sole 24 ore, Saipem had four contracts in Russia, with two others related to the Arctic LNG-2 project.

Saipem was previously involved in laying pipes for Nord Stream 2.