Bilfinger withdraws from Nord Stream 2 construction

He took note of two letters sent by Bilfinger to the US authorities. In the first of these, sent in December, the German company notified that it would comply with the European Energy Security Act (PEESCA) and that it expressed all its agreements with the Swiss company Nord Stream 2 AG, thus ending its cooperation with it. Last week, she confirmed it with a second letter.

Bilfinger's turnover amounted to EUR 4.3 billion in 2019. It has signed a number of agreements to participate in the construction of the Baltic gas pipeline. One concerns "the development, delivery and launch of process management and security systems for pipeline operation", which is expected to cost EUR 15 million. Bilfinger was also expected to supply a gas heating plant with a working power of 90 MW for a land-based gas collection base from Nord Stream 2 in Lubmin.

As stated in "Bild", Russia has not yet reacted to the decision described in the letters, which raises Bilfinger's concerns that he will be sued by Nord Stream 2 AG, owned by Russian Gazprom. The German company explained to the person wishing to get its comment to "Bild" that this is impossible in the current situation.

Source: PAP