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German Federal Agency Suspends Certification of Nord Stream 2, NatGas Jumps +12%

RUSSIA
  • EU GAS JUMPS 12%, GERMANY SUSPENDS NORD STREAM 2 CERTIFICATION
  • German Federal Network Agency suspends the certification procedure due to change in legal form at Nord Stream 2 AG
  • Company has decided to found a subsidiary that is to become the owner and operator of the German part of the Nord Stream 2 pipeline
  • New subsidiary now has to fulfill the unbundling requirements of an independent transmission operator as set out in the German Energy Industry Act (EnWG) and submit documentation, evidence, etc to the ruling chamber accordingly
  • Procedure will therefore remain suspended until the main assets and human resources have been transferred to the subsidiary and the ruling chamber has been able to check whether the documentation resubmitted by the subsidiary, as the new applicant, is complete
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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