Nigeria: Italian court throws out Saipem appeal

Issue 318 - 25 Feb 2016 | 1 minute read
The sixth criminal section of the Italian High Court on 12 February rejected an appeal by Saipem over a 2013 ruling against Snamprogetti Netherlands. Snamprogetti, which Saipem acquired in 2006, was accused with other members of the TSKJ consortium with paying bribes to secure four engineering, procurement and construction contracts worth $6bn to build pipelines and processing facilities at the Bonny Island liquefied natural gas project in Nigeria. “Today’s ruling by the High Court has no financial impact on Saipem as, at the time of the sale of Snamprogetti SpA to Saipem, Eni undertook to indemnify Saipem for losses incurred in connection with the TSKJ matter,” Saipem said in a statement.

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