Future of the Nord Stream 2: Court shifts bankruptcy - what plans are there?

Future of the Nord Stream 2: Court shifts bankruptcy - what plans are there?

The condition of the Nord Stream 2 Pipeline is the focus of current discussions. Despite the damage caused by an act of sabotage in September 2022, there are new considerations for the future use of the management. In particular, it is considered to use part of the pipeline for the transport of green hydrogen from Finland. This debate was initiated by a recent judgment of the Cantonal Court of Zug, which concerns the insolvency proceedings of Nord Stream 2 AG.

On January 9, 2025, the Nord Stream 2 AG court granted a delay until May 9, 2025. The complex geopolitical situation as well as the upcoming federal elections in Germany and the takeover of Donald Trump as US President played a decisive role. The court unanimously decided to postpone the liquidation of the company in terms of the control conditions of the pipeline. Gazprom remains involved in the division, as well as investors such as Uniper who invested almost one billion euros in the financing.

geopolitical and economic considerations

The federal government is reluctant to show when it comes to speculation about potential buyers of the pipeline. The current status is that the company Stephen Lynch, a US entrepreneur, has been approved to possibly take over the pipeline, which indicates another geopolitical lever. Lynch argues that the US government could achieve a stronger negotiating position in future peace talks by taking over the project.

The plans for the possible renovation of Nord Stream 2 AG depend heavily on the repair of the pipeline. Some consultants are already examining options for activating, in particular taking into account the technical feasibility of hydrogen transport. In view of the fact that the pipeline was no longer put into operation after the Russian attack on Ukraine in February 2022, future gas deliveries and the use of hydrogen are also in space. However, experts warn that soon commissioning could lead to increased dependence on fossil natural gas, which would contradict the climate goals.

criticism and concerns

The German Environmental Aid expresses sharp criticism of the current situation and especially the behavior of Uniper. Critics warn that the reconciliation of the pipeline for hydrogen use is only an excuse in order to continue the import of Russian natural gas. These concerns exacerbate the debate about the future of Germany's energy supply and the climate goals that affect the conflict in the region.