After Nord Stream 1 has cut off the gas supply, Nord Stream 2 is not necessarily an alternative either. As the operator announced, there was a significant drop in pressure in the tube Monday night. The causes are still unclear – gas may be escaping into the offshore area.
Although Nord Stream 2 is not used to import gas due to sanctions against Russia, it is still filled with gas. A pressure loss was detected in Pipe A and the responsible naval authorities in Germany, Denmark, Sweden, Finland and Russia were immediately notified, spokesman for pipeline operator Nord Stream 2 AG, Ulrich Lissek, said Monday. The investigation into the incident is still ongoing.
Hole, “just nobody knows where”
“There must be a hole somewhere,” said Lissek of the German news agency. “Only nobody knows where.” It is possible that gas escapes in the offshore area. If that was the case on land, you’d notice. Normally there is a pressure of 105 bar. Now it is only 7 bar on the German side.
No staff to check
Investigating the causes is very difficult for Nord Stream 2 AG: it is under sanctions, has hardly any staff and assets are frozen. “The authorities are all aware.” As far as Lissek knows, there are no Nord Stream 2 AG personnel in Lubmin, the place where the pipeline lands in Germany.
You also can’t place orders because you can’t pay for them, and you have to see where you can get information from, Lissek said.
Ministry still unknown
According to its own statements, the Ministry of the Environment of Mecklenburg-Vorpommern was not yet aware of the pressure drop at the beginning of Monday afternoon. The Gascade company said they found an anomaly. The company operates the gas infrastructure in Lubmin, to which Nord Stream 2 is also connected. However, Gascade is not responsible for the Nord Stream 2 offshore pipelines.
The double-stranded Nord Stream 2 pipeline runs 1,230 kilometers from Russia through the Baltic Sea to Germany. She has been completed and filled with gas, but she has never imported gas. The German federal government put the approval process for the completed line on hold in February shortly before the Russian attack on Ukraine and then also emphasized that there was no commissioning.
Pipeline threatened with bankruptcy
Shortly before the Russian invasion of Ukraine, the United States imposed sanctions on Nord Stream 2 AG and made all transactions with the Swiss-based company impossible. Only recently was an imminent bankruptcy averted. The competent court has extended the provisional moratorium until January 10, 2023. In any case, creditors cannot collect money with it until January.
A bankruptcy trustee appointed by the court can investigate whether a restructuring or an arrangement with the creditors has a chance of success. If this is not the case, bankruptcy proceedings must be opened under Swiss law.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
