German concern abandoned the Nord Stream 2 project due to US sanctions for the first time

The German concern Bilfinger Se has refused to participate in the construction of the Nord Stream 2 gas pipeline due to possible US sanctions.

This was announced on Tuesday, January 19, by the Bild newspaper with reference to the company’s letters.

As the newspaper notes, Bilfinger had several contracts with Nord Stream 2 AG, including the development of security systems for the gas pipeline. The contract amount is € 15 million.

Last week, the company informed the United States in one letter that it would comply with the provisions of the European Energy Security Protection Act, and in another that all partnerships and contracts with Nord Stream 2 were terminated.

On the eve it became known that the US government is going to impose sanctions against the Russian pipelayer – the Fortuna barge, which is engaged in the construction of SP-2, and its owner, the Moscow micro-enterprise KBT-Rus.

On January 13, the US State Department warned a number of European companies, which, according to its assumptions, are helping in the construction of the gas pipeline, about the possible risk of imposing restrictions on them by the US authorities.

Two days later, it became known that the construction of the “Nord Stream – 2” in the waters of Denmark is scheduled to be completed in May. In accordance with the schedule, the start of work is scheduled for the second half of January. Then pipe-laying will continue in Germany.

To date, more than 2,300 km of the approximately 2,460 km of the pipeline have been completed.

On January 16, Bloomberg, citing sources, wrote that the Swiss company Zurich Insurance Group is going to stop providing insurance services for works related to the construction of the gas pipeline. It was noted that the decision was made “because of the threat of further US sanctions against the project.” The Zurich Insurance Group has neither confirmed nor denied these reports.

Nord Stream 2 is being built from Russia to the FRG along the Baltic seabed with the aim of direct and reliable gas supplies to Europe. The EU countries mainly support the project and participate in its implementation. The USA, the Baltic states, Poland and Ukraine are against.