A chronology of Nord Stream

Read the PDF edition (2 pages)

The main events in the history of the Nord Stream companies can be summarised as follows. The dates are those reported in the sources cited in this chapter and should be read together with the reservations noted there.

● * September 2005. * Gazprom, BASF and E.ON sign the basic agreement on the North European Gas Pipeline.

● * Late 2005. * The joint venture is incorporated in Zug. It is renamed Nord Stream AG in 2006.

● * April 2010. * Construction of the first line begins.

● * November 2011. * Inauguration of the first line at Lubmin.

● * October 2012. * The second line enters operation. Total capacity reaches 55 billion cubic metres per year.

● * 2015. * Nord Stream 2 AG is established in Zug.

● * April 2017. * Gazprom and five European energy companies sign the financing agreements for Nord Stream 2.

● * September 2019. * Nord Stream 2 AG initiates arbitration against the European Union under the Energy Charter Treaty.

● * December 2019. * The United States adopts sanctions against pipe-laying vessels. Allseas suspends its work.

● * September 2021. * Completion of Nord Stream 2 is announced.

● * November 2021. * The German regulator suspends the certification procedure.

● * 22–23 February 2022. * Germany halts certification. The United States sanctions Nord Stream 2 AG and its chief executive.

● * March 2022. * Nord Stream 2 AG dismisses its employees in Zug.

● * May 2022. * The Zug cantonal court grants Nord Stream 2 AG a provisional moratorium.

● * August 2022. * Gas flows through Nord Stream stop.

● * 26 September 2022. * Explosions destroy three of the four lines.

● * 2024–2025. * Swedish and Danish investigations close. German prosecutors issue arrest warrants. A suspect is arrested in Italy in August 2025. ● * 2025–2026. * The Zug cantonal court confirms the composition agreement of Nord Stream 2 AG (9 May 2025). The European Union prohibits transactions involving the pipelines (July 2025). The High Court in London dismisses Nord Stream AG's claim against its insurers (July 2026).

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

English

Contact

Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

Get in touch →

A chronology of Nord Stream

Setting up or expanding in Switzerland?