📯Nord Stream 2 AG, the company managing the🇷🇺🇩🇪Russo-German natural gas pipeline lying on the bottom of the Baltic Sea, is safe - for now. 🛎️A🇨🇭Swiss court ruled in favour of the company's debt restructuring with creditors, giving more time to governments and operators. 🧵
Almost three years after the explosion which damaged the Nord Stream pipeline systems - 110 bcm/y of capacity - and apparently no clear responsibility for the event, even though a German prosecutor issued an arrest warrant for a Ukrainian citizen, member of a small team of
patriots, the judicial authorities in Zug allowed Nord Stream 2 AG, the society managing the second section of the pipeline never activated, to restructure its debts and pay back small-scale creditors. Without this agreement, the company would have been declared bankrupt
The decision is not enforceable, so it might be appealed, but since we still don't know who is behind the overall restructuring and secrecy surrounds the issue, we will not discover anytime soon the complete case. What we know is that news are constantly popping up in Europe and
in the U.S. about Washington and Moscow discussing the resumption of flows of Russian gas through either the Nord Stream pipeline system, which still needs to be repaired (NS1) and granted all permissions (NS2) to function, or transiting through Ukraine. All this, while the🇪🇺EU
just presented a Roadmap to end imports of Russian gas 🤔Quite confusing, isn't it?! To review the developments of the EU gas geopolitics ➡️The Netherlands Go Back to Domestic (Offshore) Gas Production 🫴https://rebrand.ly/RE_2203 ➡️A Roadmap to Nowhere? 🫴https://rebrand.ly/RE2262