news unrolled

Post: Court suspends bankruptcy proceedings of Nord Stream 2 operator

Categories

A worker’s helmet at the construction site of the Nord Stream 2 gas pipeline. archive photo

The Swiss court suspended the bankruptcy proceedings of Nord Stream 2 AG until 10 July 2023.

ZURICH, December 28 – RIA Novosti. According to the website of the Swiss Official Business Bulletin, the bankruptcy procedure of the Nord Stream 2 gas pipeline operator has been extended for another six months – now until 10 July 2023.

According to published data, the Swiss court of the canton of Zug has imposed a six-month moratorium on the project operator Nord Stream 2 AG, until 10 July 2023, for payments to creditors.

In September, the court suspended the operator’s bankruptcy proceedings until January 10, 2023.

Nord Stream 2 runs from the Russian coast via the Baltic Sea to Germany and consists of two lines with a total gas capacity of 55 billion cubic meters per year. In September 2021, its construction was fully completed and the launch work was underway, which included both technical measures and regulatory approvals, primarily from the German authorities. However, the German government stopped certification after Russia recognized the sovereignty of the DNR and LNR in February. “The project is essentially frozen,” said German Foreign Minister Annalena Berbock.

Also on February 23, the US Treasury sanctioned Matthias Warnig, the operator and CEO of the Nord Stream 2 AG project.

Source: Ria

Leave a Reply

Your email address will not be published. Required fields are marked *