Swiss court extends suspension of Nord Stream 2 operator's bankruptcy procedure until 2025

MOSCOW. June 27 (Interfax) - A court in Zug, Switzerland, has extended the moratorium on the bankruptcy procedure for the Nord Stream 2 gas pipeline operator, Nord Stream 2 AG, for another six months until January 10, 2025, the court said in its ruling.

The Nord Stream 2 underwater pipeline, with capacity to transport 55 billion cubic meters of gas per year, runs from the Slavyanskaya compressor station in the Kingisepp district of Russia's Leningrad region across the Baltic Sea to Germany. The German authorities suspended the process of certifying the pipeline, and the United States imposed sanctions on project company Nord Stream 2 AG. The company had to terminate contracts with staff due to the sanctions.

Both strings of the Nord Stream 2 pipeline were full of gas and ready to operate. One of its strings was damaged as a result of powerful explosions in September 2022.