MOSCOW (Pakistan Point News / Sputnik - 08th September, 2022) The bankruptcy procedure of the operator of the Nord Stream 2 gas pipeline has been suspended until January 2023, according to the Swiss Official Gazette of Commerce (SOGC).
"Extension of stay of bankruptcy Nord Stream 2 AG... The applicant was granted an extension for the composition moratorium... End of extension period: 10.01.2023," the SOGC statement read.
The extension will take effect on September 10.
The Swiss-based operator of the Nord Stream 2 gas pipeline, Nord Stream 2 AG, made the decision to file for bankruptcy in March. In May, a court in the Swiss Canton of Zug suspended the bankruptcy procedure until September 10.
Nord Stream 2 is a gas pipeline project with a capacity to carry 55 billion cubic meters per year, enabling gas transit from Russia across the Baltic Sea to Germany. It was implemented by Nord Stream 2 AG with the only shareholder, Russian energy giant Gazprom. The pipeline's construction lasted for three years and was completed in 2021. However, in response to the special operation in Ukraine, Western countries imposed a series of sanctions on Russia since late February, with Germany halting certification of the ready-to-operate Nord Stream 2.
