The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, Reuters reported Tuesday, citing two sources familiar with the situation.

The agency reported that Switzerland's economy minister said in an interview with Swiss radio service RTS on Monday that all Nord Stream staff, more than 140 employees, who worked for the company in the Swiss city of Zug had been fired.

The gas pipeline company is registered in Switzerland, and Russian state-owned gas giant Gazprom is the sole shareholder.

On February 22, Germany announced that it would temporarily suspend the approval process for the Nord Stream 2 project under the context of the escalating Russia-Ukraine crisis.