Matthias Warnig to retire as CEO of Nord Stream 2 pipeline operator

MOSCOW. March 30 (Interfax) - Matthias Warnig is concluding his role as CEO of Nord Stream 2 AG, the company said in a statement.

Going forward, Nord Stream 2 AG will be managed by a steering committee under the direction of administrator Transliq AG.

"Nord Stream 2 attests to and sincerely appreciates the outstanding leadership and invaluable contribution of Matthias Warnig over the long and challenging path of building major cross-border energy infrastructure and wishes him success in all his future endeavors," Nord Stream 2 AG said in a statement.

The Nord Stream 2 offshore pipeline with capacity of 55 billion cubic meters of gas per year runs from the Slavyanskaya compressor station in the Kingisepp District of the Leningrad Region of Russia to the Baltic coast of Germany. The German authorities halted the certification process for the pipeline, and the U.S. put the Nord Stream 2 AG project company on the sanctions list. The company was forced to terminate contracts with its personnel due to the sanctions. Both strings of the pipeline are filled with gas and ready for operation. One of the pipeline's strings was damaged as a result of powerful explosions in September 2022.

Nord Stream 2 AG is currently subject to a moratorium on bankruptcy through 10 July 2023.