The subsidiary set to function the German a part of Nord Stream 2 doesn’t meet the situations to be an “independent transmissions operator,” a German regulator stated on Tuesday.
It may very well be licensed solely “if that operator was organized in a legal form under German law,” Germany’s Federal Network Agency stated.
The certification would keep suspended “until the main assets and human resources have been transferred to the subsidiary,” the officers added.
The suspension comes because the Switzerland-based firm Nord Stream 2 AG plans to determine a subsidiary beneath German regulation just for the German part of the pipeline.
Nord Stream 2 stated it had been notified by the regulator however stated, “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.”
Controversial undertaking
The Nord Stream 2 pipeline is to move fuel from Russia to Germany and to different international locations. It is owned by Russian-controlled fuel big Gazprom with funding from a number of European corporations.
The pipeline was constructed beneath the Baltic Sea and bypasses Poland and Ukraine, which have each raised objections. Ukraine stands to lose income if fuel to Europe will not be conveyed by means of its territory. Poland, for its half, fears the undertaking will additional strengthen Gazprom’s already dominant place within the area.
The undertaking has additionally been opposed by a number of different international locations, together with, notably, the US, which says it can dangerously improve Europe’s dependence on Russia for its vitality suppy.
However, regardless of opposing the pipeline in precept, the Biden administration in July dropped efforts to dam it with sanctions, hanging a cope with Germany that features help for Ukraine and the specter of sanctions if Russia is deemed to “weaponize” gas deliveries.
Recently, critics accused Russia of intentionally slicing its fuel provide to Europe as a ploy to hurry up Germany’s certification of the pipeline. Moscow has denied the allegations.
