The money has been found: it has become known in what year the launch of Nord Stream 2 is planned
While the proceedings on the bankruptcy of the Nord Stream 2 operator or the preservation of the project with the payment of debts are ongoing, the company itself plans that the gas pipeline can be restored and supplies can begin in the near future. During the court hearing, deadlines were even announced to convince the court and investors to wait with the repayment demands. This is reported by the Swiss online publication ZentralPlus.
Nord Stream 2 AG still believes in future operation, as evidenced by the negotiations. According to Transliq AG, the gas company is planning a scenario in which the pipeline will start operating in 2030 and will last for 50 years
– ZentralPlus reports with reference to a court hearing in Zug, Switzerland, where the future of the project was considered.
According to company representatives, the project shareholders can already make the same assumptions. In the new scenario, it is assumed that the geopolitical situation will ease, since there is high demand for energy resources in Western Europe.
Accordingly, there is also a need for low-cost procurement sources and a gas pipeline.
– a representative of Transliq AG, which is acting as the interim manager of Nord Stream 2, told the judge.
According to him, the cost of restoring one line of the gas pipeline will be 633 million euros, while the second has been preserved. The operator also hopes for insurance compensation, for which legal proceedings are ongoing. This is the amount that has already been laid down as the basis for negotiations with the owners of shares in the underwater pipeline, which the operator will receive soon, having begun restoration work.
Transliq AG noted that the future of the gas pipeline will be decided together with the main creditors, which are Germany's Uniper, Wintershall, Austria's OMV, Britain's Shell and France's Engie.
So far, Uniper and OMV have rejected the agreement, while the other three creditors have agreed to a limited restructuring proposal, ZentralPlus reports. A decision must be made by January 10, 2025. This is the deadline for an extension of the bankruptcy or restructuring procedure in the Nord Stream 2 case.
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