OREANDA-NEWS The court of the Swiss canton of Zug has once again (now as an exception) extended the moratorium on the bankruptcy of Nord Stream 2 operator Nord Stream 2 AG until May 9, 2025, the court said in a statement.

The Swiss subsidiary of Gazprom Nord Stream 2 AG, the court ruled, is obliged to fully repay its debts to small creditors and submit a report to the court within 60 days of receiving the relevant decision. In case of non-compliance with this condition, Nord Stream 2 AG will be declared bankrupt without setting a grace period, the report also says.

In December 2024, a draft settlement agreement for the operator of Nord Stream 2 was submitted to the court; in November, the draft agreement was discussed at a creditors' meeting of Nord Stream 2 AG.

The offshore Nord Stream 2 gas pipeline with a capacity of 55 billion cubic meters of gas per year runs from the Slavyanskaya compressor station in the Kingisepp district of the Leningrad Region of Russia to the Baltic coast of Germany.

The German authorities stopped the certification process of the gas pipeline, and the United States added the project company Nord Stream 2 AG to the sanctions list.

Both lines of the highway were filled with gas and prepared for operation. One of the strands of the highway was damaged as a result of powerful explosions in September 2022.