© Reuters
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Germany’s Federal Network Agency (Bundesnezagentur) has frozen the certification procedure for the controversial Nord Stream-2 underwater gas pipeline, which is intended to deliver Russian gas to Germany and Europe, DPA reported.
“After a thorough examination of the documentation, the Bundesnezagentur concluded that it would be possible to certify an operator of the Nord Stream-2 gas pipeline only if that operator was organized in legal form under German law,” the network agency said in a statement today.
They explain that the subsidiary, set up to operate the German part of the pipeline, does not meet the conditions to be an “independent transmission operator”.
Until “the main assets and human resources are transferred to the subsidiary” and this step is verified, the certification procedure will be suspended, the agency said.
Following the announcement, the price of natural gas in the TTF hub jumped by nearly 6 percent to 1,048 dollars per 1,000 cubic meters. / BTA
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