Nord Stream 2 AG Faces Insolvency Challenges

Nord Stream 2 AG, the operator of the costly Baltic Sea pipeline, is grappling with potential insolvency. A Swiss court has granted the company a reprieve until 2025, allowing time to negotiate a composition agreement with its creditors.

This pipeline, which cost nearly ten billion euros and spans 1,200 kilometers, has never been operational due to geopolitical tensions and a recent attack on the Nord Stream 1 pipeline. With bankruptcy looming, the court has appointed Transliq as a restructuring advisor to explore viable options.

The urgency for a resolution is heightened, as failure to reach an agreement with creditors could lead to bankruptcy. Meanwhile, uncertainty prevails regarding the perpetrators of the previous attacks, and a recent purchase of replacement pipes indicates ongoing efforts to address infrastructure challenges.