Germany intends to terminate the operation of Nord Stream 2 through a law

The German government plans to amend the law on foreign trade to exclude the possibility of operating the Nord Stream 2 gas pipeline in the future. This decision is aimed at preventing a potential purchase of the company managing the pipeline, but a court case in the Swiss canton of Zug limits Germany's legal ability to interfere with the sale.

In May, a Swiss court approved a settlement agreement between the operator of Nord Stream 2, Nord Stream 2 AG, and its small creditors, but the decision can be appealed. Gazprom International Projects LLC is the sole shareholder of Nord Stream 2 AG, but the shares are pledged by European creditor companies such as OMV, Wintershall Dea, Shell, Uniper and Engie. These companies financed 50% of the €9.5 billion project, with Gazprom providing the rest.

In January, the court ordered Nord Stream 2 AG to pay all debts to small creditors within 60 days, otherwise bankruptcy proceedings will begin. This deadline has been extended until May 9th, which gives the company time to settle its debts.