"Nord Stream-2" operator considers filing for bankruptcy

"Nord Stream-2" AG, registered in Switzerland and owned by Russia's Gazprom, completed the pipeline last year. The total cost of the project is $11 billion. This route is designed to double the volume of gas pumped from Russia to Germany.

“"Nord Stream-2" AG is working with a financial adviser to clear some of its obligations and may formally commence insolvency proceedings in a Swiss court. Already this week”, - reports Reuters, citing two anonymous informed sources.

Gazprom did not comment on the agency's requests.

"Nord Stream-2" AG, according to the publication, is also terminating contracts with employees.

“Due to the development of the geopolitical situation and sanctions imposed on "Nord Stream-2" AG by the United States, the company was forced to terminate contracts with personnel. We deeply regret this forced step”, - the company commented.

The operator was included in the sanctions list after Russia recognized the independence of the DPR and LPR. It happened on the evening of February 21st. The parties signed agreements on friendship and cooperation. At the moment, both lines of the gas pipeline have been completed, tested and filled with gas.