Nord Stream 2 is a gas pipeline with the capacity to carry 55 billion cubic meters of gas
Germany's energy regulator stated it suspended the certification process for the Nord Stream 2 pipeline, another setback in the controversial $12 billion project.
Nord Stream 2 is a gas pipeline with the capacity to carry 55 billion cubic meters of gas from Russia to Germany every year, running parallel to the original Nord Stream. Many say this will increase Europe's reliance on Russia for its energy needs, giving Moscow potential control over the continent. The United States described the project as a geopolitical security risk.
Germany's regulator, the Bundesnetzagentur, said the Swiss company decided not to turn itself into a German company but set up a subsidiary under German law to deal with the section of the pipeline on German territory.
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"A certification for the operation of Nord Stream 2 will only be considered once the operator is organized in a legal shape compliant with German law," the regulator said.
The regulator said it would only assess an application after a transfer of major assets and budgets for staffing to the German subsidiary.
Nord Stream 2 said it had been notified by the regulator but added, "We are not in the position to comment on the details of the procedure, its possible duration and impacts on the timing of the start of the pipeline operations."