German organization Bilfinger SE withdraws from Nord Stream 2 undertaking, experiences say – Organization & Economic system

BERLIN, January 19. /TASS/. German enterprise Bilfinger SE determined to not to participate in the implementation of the Nord Stream 2 challenge thanks to the risk of US sanctions, the Bild tabloid claimed on Tuesday with reference to the company’s letter.

Before, according to the newspaper, Bilfinger SE signed quite a few contracts worth 15 mln euro with Nord Stream 2AG, the project’s operator, in certain “for the improvement, offer and maintenance of stability techniques”, as nicely as for the supply of a heat building unit.

Bild claimed that Bilfinger SE experienced by now notified the American aspect that they were being not heading to fulfill all those contracts.

German officials frequently claimed that Berlin considers Nord Stream 2 an economic venture. Berlin pressured that Ukraine should retain its part as a transit nation for gasoline.

In Germany they consider US extraterritorial sanctions unlawful. Earlier, the government of the German federal point out of Mecklenburg-Vorpommern founded a exclusive environmental foundation. Just one of its jobs is to assistance the Nord Stream 2 contractors and secure them versus the US sanctions. Germany’s Inexperienced party criticized the establishment of the fund.

On Tuesday, US Treasury Office introduced introduction of sanctions from the Fortuna vessel, which is involved in the building of the Nord Stream 2 gasoline pipeline, and its owner, the KBT-Rus firm.

The sanctions were being imposed in the framework of the CAATSA (Countering America’s Adversaries By Sanctions Act). Inclusion in the sanctions record signifies asset freezing in the United States and the ban for US citizens or firms on engaging in organization with individuals in the checklist.

The Nord Stream 2 venture contemplates the development of two pipeline strings with a whole capability of 55 bln cubic meters per 12 months from the coast of Russia through the Baltic Sea to Germany. To date, extra than 2,300 km of the Nord Stream 2 gas pipeline has been laid (out of somewhere around 2,460 km), or 94% of the total duration of the gasoline pipeline. The construction of the pipeline was suspended in December 2019 right after Switzerland’s Allseas stopped pipe-laying because of to attainable US sanctions. In December 2020, project operator Nord Stream 2 AG resumed pipe laying, making a 2.6 km pipeline in the German exceptional financial zone making use of the Russian pipe-laying barge Fortuna. Gazprom counts on commissioning of Nord Stream 2 within just a acceptable time body. The keeping notes that Nord Stream 2 continues to be one particular of its priority investment decision assignments in 2021.