Nord Stream 2 AG Scoreboards a Respite: Swiss Court Gives Green Light to Seek Out Fresh Financiers
Investor solicitation permit granted to Nord Stream 2 managers
In a much-needed break, the heavily indebted powerhouse behind the Russian pipeline, Nord Stream 2 AG, is now authorized to scout for new financiers. A Swiss court in the canton of Zug has given the nod to the pending inheritance contract, as they announced. However, the final decision can be challenged, the court added, hence, specifics won't be shared.
The Nord Stream 2 pipeline, a 1,200-kilometer-long project, intended to transport natural gas from Russia to Germany, was completed but remains idle. Following Russia's invasion of Ukraine in February 2022, the German government decided to put the brakes on the project. In September 2022, one of the two strings of Nord Stream 2 and both strings of Nord Stream 1 were hit in an attack.
Recent rumors have swirled about the entry of US investors, with billionaire investor Stephen P. Lynch, a supporter of former US President Donald Trump, mentioned prominently. Some speculate this could be part of a potential US-Russia accord to resolve the Ukraine conflict. As of March, Russian Foreign Minister Sergei Lavrov spoke of discussions regarding Nord Stream on state television.
Source: ntv.de, lar/dpa
- Nord Stream
- Energy Supply
- Russia
- Switzerland
- Natural Gas
- Justice
While previous key investors in the Nord Stream 2 project include companies like OMV (Austria), Wintershall Dea, Shell, Uniper, and Engie[5], the current court decision and related reports do not explicitly confirm the entry of new investors—particularly American ones—nor suggest a regulatory change that would permit US investors to join the Nord Stream 2 project.
The Swiss court's approval aims primarily at addressing the creditors' claims and maintaining the project's financial sustainability[2][5], rather than opening a new investment opportunity specifically for US financiers or revising the project's geopolitical conditions that might impact US involvement.
In essence, the recent Swiss court decision does not indicate that US investors can potentially engineer their way into or invest in the Nord Stream 2 project. The ruling focuses on resolving creditor disputes and managing the project's financial challenges, rather than altering the project's investment prerequisites or geopolitical milieu that could facilitate US participation[1][2][3][5].
- The court decision in Switzerland does not specifically confirm the entry of American investors into the Nord Stream 2 project.
- The energy supply project, Nord Stream 2, is authorized to seek out new financiers, but the ruling does not suggest a regulatory change that would permit US investors to join.
- The primary focus of the Swiss court's approval is addressing creditor claims and maintaining the project's financial sustainability, rather than opening investment opportunities specifically for US financiers or revising the project's geopolitical conditions.
