The maximum cost of repairing the Nord Stream gas pipeline is 633 million euros. This figure is stated in an internal report assessing the prospects for the future use of the gas pipeline.
The maximum expected cost of repairing the Nord Stream 2 gas pipeline (in case of future use) will be up to 633 million euros, Robert Bechler, a spokesman for the Swiss-based Transliq AG company, said, TASS reported.
The figure was included in an internal report prepared by Transliq AG, which assessed the prospects for future use of gas pipelines. Mr. Bechler added that all evidence suggests that energy demand in Western Europe will remain high.
In June, a Swiss court extended the insolvency proceedings of Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline, until January 2025. If the company fails to restructure its debt by then — which is unlikely — it will face bankruptcy. In the meantime, Transliq AG has acted as Nord Stream 2 AG’s interim administrative receiver.
The Nord Stream and Nord Stream 2 pipelines, which run under the Baltic Sea and were built to carry gas from Russia to Germany and from there to other European countries, were sabotaged in September 2022, blowing up in massive explosions that caused a major gas leak and released 478,000 tons of methane into the atmosphere.
This week, the US imposed new sanctions on several entities in Russia involved in the construction of the Nord Stream 2 pipeline, including new measures against the project operator, as well as some of the new owners of the sanctioned vessels.
Among the targets were Russian shipping and water transport companies, a state-owned maritime rescue service and more than a dozen ships. Nord Stream 2 AG and a Russian insurance company that provides insurance to companies involved in the project were also targeted.
US State Department deputy spokesman Vedant Patel said the US remains opposed to efforts to revive the project.
