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 use of the gas pipeline in the future.
TASS reported that Mr. Robert Bechler - spokesman for the Swiss-based company Transliq AG - said that the maximum expected cost of repairing the Nord Stream 2 gas pipeline (in case of future use) will be up to 633 million euros.
This figure is stated in an internal report prepared by Transliq AG, assessing the prospects for the use of the gas pipeline in the future. Mr Bechler added that all grounds suggest that energy demand in Western Europe will remain high.
In June this year, a Swiss court extended the bankruptcy 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. Since then, Transliq AG has acted as the temporary administrative receiver of Nord Stream 2 AG.
The Nord Stream and Nord Stream 2 pipelines run under the Baltic Sea, built to transport gas from Russia to Germany and thereby to other European countries. They were sabotaged in September 2022, blasting in large explosions that caused a major gas leak and released 478,000 tonnes of methane into the atmosphere.
This week, the US issued new sanctions against a number of entities in Russia involved in the construction of the Nord Stream 2 pipeline, including new measures against the project operator, as well as some new owners of the sanctioned vessels.
Among the targets were maritime services and waterway transport units in Russia, state-owned maritime rescue services and more than a dozen ships. Nord Stream 2 AG and a Russian insurance company - which provides insurance to companies involved in the project - were also targeted.
US State Department Deputy Spokesperson Vedant Patel said the US still maintains a view against efforts to restore the project.
