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Nord Stream 2: Bankruptcy averted! New investors in sight?
Nord Stream 2 avoids bankruptcy and is looking for new investors. Read about the latest pipeline developments and possible future prospects.
Nord Stream 2: Bankruptcy averted! New investors in sight?
On May 18, 2025, Nord Stream 2 AG managed to fend off the threat of insolvency. A Swiss court approved a debt restructuring agreement that allows the company to have its debts cut. Without this contract, bankruptcy would have been declared in Switzerland. However, the pipeline that was supposed to transport natural gas from Russia to Germany was never certified and therefore not put into operation, meaning that no gas can flow. Nord Stream 2 AG, which belongs to Gazprom and is based in the canton of Zug, has long been criticized, especially since its dependence on Russian gas supplies has repeatedly been hotly debated.
On April 30, major creditors such as ENGIE, OMV, Shell, Uniper and Wintershall agreed on the debt restructuring agreement. Small creditors, including construction companies from Mecklenburg-Western Pomerania, will receive compensation within a framework that has yet to be defined. However, interest in the pipeline appears to be growing again. We are now actively looking for new investors and have already received initial positive feedback.
Future of pipeline uncertain
Despite current developments, the future of the pipeline remains uncertain. The federal government is currently not planning to certify Nord Stream 2 nationwide. This could significantly limit the prospects for future use as a natural gas pipeline. In addition, one leg of the pipeline was damaged in an attack in September 2022, further jeopardizing trust in the infrastructure. In addition, Russia has stopped gas deliveries via Nord Stream 1, which has led to further distrust of Russian energy companies.
However, US investors are showing renewed interest in the pipeline. Stephen P. Lynch recently spoke positively about possible purchase options, noting that it is conceivable that Nord Stream 2 could become part of a future US-Russian agreement to resolve the Ukraine conflict. However, analyst Heiko Lohmann remains skeptical about the future use of the pipeline as a natural gas pipeline. It is also being examined whether the pipeline may be suitable for transporting hydrogen, which could open up new perspectives.
In summary, Nord Stream 2 AG has reached an important milestone, but the challenges and uncertainties surrounding the pipeline and its use remain. The outcome of the entire company remains to be seen, while the search for new investors is eagerly awaited.