Stroytransgaz And Syria Amend Contract For Gas Project

Russia’s Stroytransgaz announced in November that it had signed a supplementary agreement amending its contract with the Syrian Gas Company (SGC) for the North and South Middle Area Gas project. The amendments, which were approved by the Syrian Council of Ministers on 26 October, cover a higher contract price and an extension, according to a statement on the Stroytransgaz website. Explaining the new agreement, the Chairman of the Management Board of Stroytransgaz Sergey Makarov said “the need to update the project in the process of its implementation, the global financial crisis, the incessant rise in the price of equipment in the world market, the political and economic instability have made us change the terms of the contract previously concluded between out companies.” Mr Makarov added that his company will carry out all contract obligations despite the political crisis in Syria. 

SGC in 2005 and 2007 had signed with Stroytransgaz contracts for the engineering, procurement and construction for the North and South Middle Area Gas project (MEES, 7 May 2007, 7 February 2005).

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