Bankruptcy of Nord Stream 2 AG suspended until January 2023

MOSCOW, 8 Sep — PRIME. The bankruptcy procedure for the operator of the Nord Stream 2 gas pipeline has been suspended until January 2023, according to the website of the Swiss Official Business Bulletin.

“Extension of the suspension of the bankruptcy proceedings of Nord Stream 2 AG… End of the extension period: 01/10/2023,” the website says.

In May, a court in the Swiss canton of Zug suspended the bankruptcy proceedings for the operator of the Nord Stream 2 gas pipeline until September 10.

Nord Stream 2 stretches from the coast of Russia across the Baltic Sea to Germany and consists of two strings with a total capacity of 55 billion cubic meters of gas per year. Its construction was fully completed in September 2021, and work was underway on the launch, which included both technical measures and obtaining regulatory approvals, primarily from the German authorities. However, the German government, after Russia recognized the sovereignty of the DNR and LNR in February, stopped the certification. German Foreign Minister Annalena Berbock said that “the project is actually frozen.” In addition, the US Department of the Treasury on February 23 imposed sanctions on the operator of the Nord Stream 2 AG project and its chief executive Matthias Warnig.