Contractors will not be immune to price increases associated with a March 8 presidential executive order banning imports of Russian oil, liquefied natural gas and coal, industry groups say.
The $1.4-billion expansion of a Phillips 66 natural gas liquids complex in Sweeny, Texas, was “the best example of teamwork I have seen in my 30-plus year career,” says John Parker, senior vice president of construction at project design-builder S&B Engineers and Constructors.
Equipment giant Caterpillar, design giant WSP and others announce they will detach, while more are ‘closely monitoring’ the situation overseas as it directly affects projects, clients and personnel.
White House officials say import halt, supported by a bipartisan group of lawmakers, is necessary to put additional pressure on Vladimir Putin over Ukraine invasion, but its costs are likely to be felt in the construction industry and the overall economy.
As conflict expands, Germany looks to extend use of last three nuclear power plants it planned to close this year, while EU gets 10-point plan to cut Russia gas dependence by one-third in a year and Denmark announces new steps to halt Russian gas imports.
Enbridge Energy will issue requests for proposals in the coming weeks for contractors to construct a $500-million Great Lakes tunnel to carry crude oil and natural gas liquids through the Straits of Mackinac between Michigan and Ontario.