09-05-2025
Nord Stream 2 operator given go-ahead to find new investors
The highly indebted Russian pipeline operator Nord Stream 2 can continue its search for a new investor to save it from bankruptcy, a court in Switzerland ruled on Friday.
According to the court, the decision can still be appealed, meaning no further details on the case could be announced.
The Nord Stream 2 project was intended to bring natural gas from Russia to Germany through two 1,200-kilometre pipelines in the Baltic Sea.
The landmark project was completed amid much fanfare, but never went into operation.
Shortly after the Russian invasion of Ukraine in February 2022, the German government cancelled the project, which critics saw as giving Russia too much influence over energy supplies to Europe.
One of the pipelines was damaged in a mysterious attack in 2022.
Media reports have recently speculated about the involvement of US investors in a possible deal.
Stephen P Lynch, a wealthy businessman and supporter of US President Donald Trump, has been mentioned in connection with the pipeline company.
The firm could become part of a US-Russian agreement to peacefully end the war in Ukraine, according to reports.
Russian Foreign Minister Sergei Lavrov said on state television in March that Nord Stream was "being discussed."
