Nord Stream 2 AG starts bankruptcy proceedings?

Nord Stream 2 AG doesn’t confirm the commencement of bankruptcy proceedings, reads the company’s message, Report informs citing TASS.

“We don’t confirm media reports that Nord Stream 2 has begun bankruptcy proceedings. Following the recent geopolitical developments leading to the imposition of US sanctions on Nord Stream 2 AG, the company had to terminate contracts with employees. We very much regret this development,” reads the statement.

According to Silvia Thalmann-Gut, head of the economic department of the Canton of Zug, which she gave to the Swiss television channel SRF, the company employed 106 people.

The Nord Stream 2 offshore gas pipeline with a capacity of 55 billion cubic meters of gas per year runs from the Leningrad Region of Russia to the Baltic coast of Germany. At the moment, both lines of the pipeline have been built, tested, filled with gas and are ready for operation.