Germany has Suspended the Certification of Nord Stream-2
OREANDA-NEWS. The German regulator has temporarily suspended the certification procedure for the Nord Stream-2 gas pipeline. To resume it, it is necessary to create a gas pipeline operator company in accordance with German law, the Federal Agency for Networks in Bonn reported on Tuesday, November 16.
As noted in a statement posted on it's website, the certification process will resume after the operator Nord Stream 2, based in the Zug city, transfers the main assets and human resources to a German subsidiary and the regulator will be able to verify the newly submitted documents.
«When these requirements are met, the Federal Agency for Networks will be able to continue consideration during the remainder of the four-month period provided for by law, prepare a draft decision and, in accordance with the legislation on the internal market, send it to the European Commission for comment», it is further indicated.
The regulator has already informed the German Ministry of Economy and Energy, as well as the European Commission about the decision. In addition, it was brought to the attention of the participants of the procedure before publication.
Against the background of the news about the suspension of the gas pipeline certification procedure in Germany, the spot price of gas increased on Tuesday to $1,046 per thousand cubic meters. The price of the December TTF futures on the ICE Futures exchange rose to 88.9 euros per MW.tsch. At the beginning of November, the gas price was about $750 per thousand cubic meters.