- Home
- World
- News
- Switzerland Says Bankruptcy Procedure for Nord Stream 2 Operator Suspended Until July 2023
Switzerland Says Bankruptcy Procedure For Nord Stream 2 Operator Suspended Until July 2023
Umer Jamshaid Published December 28, 2022 | 07:34 PM
The bankruptcy procedure for the operator of Nord Stream 2 gas pipeline has been extended for another six months until July 10, 2023, according to the Swiss Official Gazette of Commerce (SOGC)
ZURICH (UrduPoint News / Sputnik - 28th December, 2022) The bankruptcy procedure for the operator of Nord Stream 2 gas pipeline has been extended for another six months until July 10, 2023, according to the Swiss Official Gazette of Commerce (SOGC).
A court in the Swiss canton of Zug granted the pipeline's operator a moratorium on payments to creditors for another six months.
Nord Stream 2 is a gas pipeline with a capacity to carry 55 billion cubic meters per year from Russia across the Baltic Sea to Germany. The operator, Nord Stream 2 AG, had Russian energy giant Gazprom as the shareholder and four European energy companies as investors, which pulled out of the project earlier this year after a series of Ukraine-related sanctions were imposed against Russia and the pipeline was damaged in a sabotage that is still being investigated.
Nord Stream 2's construction lasted for three years and was completed in 2021. The ready-to-operate pipeline's certification was halted by Germany in February.
Nord Stream 2 AG made the decision to file for bankruptcy in March. In May, a court in Zug suspended the bankruptcy procedure until September 10. In September, the court suspended the procedure for another four months.
Related Topics
Recent Stories
HRCP builds case for a constitutional amendment to strengthen local governments
Govt importing urea to ensure uninterrupted supply to farmers: Rana Tanveer
First women-led home appliances workshop opens in Multan
Osama Mir directly contacts Mohsin Naqvi for not being selected for T20I World s ..
Rafah battles intensify as Israel seizes key corridor
Training vital for positive use of technology: Shaza Fatima
Pineapple---a best source to fight heatstroke
PM strongly condemns attack on Khalid Magsi's convoy
Five things to know about Mexico's outgoing president
Five killed as vehicle plunges into ravine in Swat
Pakistan, Kuwait agree for enhancing cooperation in different sectors
Commendation certificates awarded to police officials
More Stories From World
-
Football: Ligue 1 promotion/relegation play-off result
4 hours ago -
Djokovic untroubled at French Open as fans hit by alcohol ban
4 hours ago -
Tennis: French Open results - 3rd update
4 hours ago -
Humanity in 'race against time' on AI: UN
5 hours ago -
Nishikori's Grand Slam return cut short by injury
5 hours ago -
No.1 Korda fires 10 at par-3 12th in 80 to start US Women's Open
5 hours ago
-
Rafah battles intensify as Israel seizes key corridor
6 hours ago -
Five things to know about Mexico's outgoing president
6 hours ago -
64 UN peacekeepers, including a Pakistani, honoured posthumously at solemn ceremony
7 hours ago -
Bloodshed mars final day of Mexico election campaigns
7 hours ago -
US lawmaker Tom Suozzi to lead efforts to resurrect caucus to underpin ties with Pakistan
7 hours ago -
Spanish parliament passes controversial amnesty bill
7 hours ago