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Natgas Rises on Reports Russia may need More Time to launch Nord Stream 2

RUSSIA
  • The German federal network agency, after receiving the documents for the gas pipeline, must make a preliminary decision on certification within four months (until Jan 8 ), after which it will be studied by the EC for two months: in particular, through a compliance check draft of European energy regulations.
  • Although the verdict will not be binding, the commissioning of Nord Stream 2 may be delayed until May 8, since the European Commission has the right to extend the consideration for another two months
  • In Germany there should be no problems with approving the gas pipeline: the government of Angela Merkel has always supported the project, despite criticism from the United States , Ukraine and some EU countries. It is assumed that with her possible successor, SPD candidate Olaf Scholz , there will be no changes: his party also advocated the construction of the pipeline.
  • The process of certification of Nord Stream 2 AG as an independent operator is underway . It will take place in two stages: first, the German regulator will develop a draft decision, then the European Commission will evaluate it .
  • The whole process can take several months. Berlin has already received a full package of necessary documents from Moscow. - RIA
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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