On October 19 Nord Stream creditors 2 AG - operator of the Nord Stream 2 gas pipeline, will discuss the restructuring of the company's debt. This is stated in a company statement on the website of the official Swiss trade bulletin.
The meeting will be held in Zug, Switzerland and will discuss the postponement of the company's bankruptcy.
The operator of "Nord Stream-2" will have to submit a suitable compromise agreement to the creditors.
In June, the bankruptcy proceedings of Nord Stream 2 AG were extended until January 2025. Transliq AG remains the interim administrative manager.
In the report of "Gazprom" states that the maximum period for the final moratorium on Nord Stream 2 AG is 24 months. It was introduced on January 10, 2023. Before that, there was a temporary moratorium on bankruptcy, which was extended several times.
Investors of Nord Stream 2 AG are the European OMV, Wintershall Dea, Shell, Uniper and Engie. All partners of the Russian Gazprom for the project, they committed to provide long-term financing in the amount of 50% of the total cost of the project, which was estimated at 9.5 billion euros. Each company had to allocate up to 950 million euros.
Construction of "Nord Stream-2" fully completed on September 10, 2021. It was originally planned to be completed by the end of 2019, but work was delayed due to US sanctions. The gas pipeline consists of two threads with a total capacity of 55 billion cubic meters. m per year, which pass from the Russian coast through the Baltic Sea to Germany.
However, on September 27, 2022, Nord Stream AG reported an “unprecedented destruction” that had occurred the previous day “of three strings of the offshore gas pipelines Nord Stream and "Nord Stream - 2". Swedish seismologists recorded two explosions on September 26 along marine pipelines. The General Prosecutor's Office of the Russian Federation has initiated a case for an international terrorist act after damage to gas pipelines. It is currently impossible to determine the time frame for the restoration of the gas pipelines.