Wednesday, October 31, 2007

How Fossil Fuels fund Patagonia Dams - Endesa expands Carbon Footprint in Europe with Italian liqufied natural gas terminal

Saipem to finalise contract for Iride, Endesa LNG plant by end of November

MILAN, Oct. 30, 2007 Saipem SpA is expected to finalise the contract to build the OLT offshore liquefied natural gas (LNG) terminal at Leghorn, near Pisa, before the end of November, a source close to the deal said.

'The talks have been difficult because of rising costs but they are now in their final stages and an agreement on the EPC (engineering, procurement and construction) contract is expected next month,' the source said.

Rising oil prices have been the main reason for climbing costs at the LNG facility controlled by Iride SpA (OOTC:IRDEF) and Endesa (NYSE:ELE) SA, the source said.

Here is the full article.