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Train – change of boss, relocation of headquarters, time

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Train – change of boss, relocation of headquarters, time

Change of boss, relocation of headquarters, lack of time and money: What will happen to Nord Stream 2?

The Zug operating company of the Baltic Sea gas pipeline Nord Stream 2 has been considered de facto insolvent for over a year and a half. Without early restructuring or agreement with creditors, there is a risk of foreclosure. With far-reaching consequences.

Pipeline section in the German Mecklenburg-Western Pomerania, which was supposed to feed gas into the European network after the completion of Nord Stream 2.

Bild: Stefan Sauer/Keystone (6. 2. 2019)

It has been almost two years since the operating company of the Nord Stream 2 gas pipeline laid off over 100 employees at its Zug headquarters and deposited its balance sheet with the Zug Cantonal Court. The move came less than a week after Russian troops invaded Ukraine on February 24, 2022.

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