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Nord Stream 2 ‘Cannot Confirm’ Reports of Bankruptcy Filing

  • Operator already terminated worker contracts amid sanctions
  • Germany froze the approval process, putting pipeline in limbo
Pipe sections in storage for the Nord Stream 2 undersea gas pipeline at Mukran Port in Sassnitz, Germany, on Nov. 12, 2021.

Pipe sections in storage for the Nord Stream 2 undersea gas pipeline at Mukran Port in Sassnitz, Germany, on Nov. 12, 2021.

Photographer: Krisztian Bocsi/Bloomberg
Updated on

Nord Stream 2 AG, operator of the controversial gas pipeline under the Baltic Sea to Germany, said it can’t confirm published reports that it has filed for bankruptcy amid a raft of international sanctions against Russian assets.

“We cannot confirm the media reports,” it said in a statement. Switzerland-based Nord Stream 2 AG “only informed the local authorities that the company had to terminate contracts with employees following the recent geopolitical developments leading to the imposition of U.S. sanctions on the company.”