The operator of Nord Stream 2 has filed for bankruptcy

Nord Stream 2 AG, operator of the Nord Stream 2 gas pipeline, has filed for bankruptcy. This was reported to the Swiss broadcaster SRF by the representative of the authorities of the canton of Zug Sylvia Thalmann-Gut.

“We were informed today that this company cannot continue to operate,” she said. According to her, 106 employees of the company received a notice of dismissal.

Earlier on March 1, Reuters reported , citing sources, that Nord Stream 2 AG was considering filing for bankruptcy due to US sanctions imposed against it.

Nord Stream 2 AG, headquartered in the canton of Zug, built Nord Stream 2 and operates the pipeline. 51% of the company is owned by Gazprom.

The Nord Stream 2 gas pipeline runs along the bottom of the Baltic Sea from the Russian Ust-Luga to the German Greifswald. It was completed in autumn 2021.

On February 22, after Russia declared the independence of the self-proclaimed DPR and LPR, Germany stopped the process of certification of the gas pipeline. On February 23, the United States imposed sanctions against Nord Stream 2 AG, which provide for a ban on transactions with the company.

(c)MEDUZA 2022

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