The latest news on Nord Stream 2 from TASS said that the Swiss state court of Zug announced that the final bankruptcy postponement of Nord Stream 2 AG - the company that operates the Nord Stream 2 gas pipeline - has been extended until May 9, 2025.
"The final repayment deadline for Nord Stream 2 AG has been extended by an exception to May 9, 2025 according to the decision of the Zug EN 2022 2 State Court, January 9, 2025. Nord Stream 2 AG is obliged to repay the entire amount to all small creditors within 60 days from the date of receipt of this decision and send a payment receipt related to the Zug State Court," the court said.
If the operator of the Nord Stream 2 gas pipeline fails to meet the deadline, the company will be considered bankrupt without having to set a deadline for an extension.
Transliq AG will continue to operate as the interim manager of Nord Stream 2 AG.
Nord Stream 2 AG has completed an $11 billion gas pipeline project in 2021 to pump gas from Russia to Germany. But Germany stopped approving the pipeline for operation shortly before the Russia-Ukraine conflict broke out. The US has also imposed sanctions on Nord Stream 2.
In September 2022, one of the two branches of the Nord Stream 2 pipeline was damaged by mysterious explosions. Also during this sabotage, two branches of the Nord Stream pipeline were blown up.
