Nord Stream 2 Gas Pipeline Company Considers Filing for Insolvency – Reuters

Nord Stream 2 Gas Pipeline Company Considers Filing for Insolvency – Reuters
Construction of an underwater gas pipeline 3d illustration

The company which owns the Nord Stream 2 gas pipeline from Russia to Germany is currently considering filing for insolvency, two sources familiar with the situation told Reuters.

This comes as the company tries to settle claims before a U.S. sanction deadline for companies to halt dealings with it.

The United States sanctioned Nord Stream 2 AG last week after Russia recognized two breakaway regions in eastern Ukraine prior to its military operations in the country, which has prompted a wave of economic sanctions by the West.

Nord Stream 2 AG, which is registered in Switzerland and owned by Russian state-owned gas giant Gazprom, last year completed the $11 billion project which was designed to double the capacity to pump gas from Russia to Germany, according to Reuters.

Sarah Samir 2786 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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